Advocates of an active approach think that only when unemployment is high, the natural adjustments of wages and prices can be effective
a. True
b. False
Indicate whether the statement is true or false
False
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Education accounts for the largest share of state and local government spending.
Answer the following statement true (T) or false (F)
Demand is said to be elastic when percentage changes in quantity demanded are
a. less than the percentage changes in price. b. higher than the percentage changes in price. c. equal to the percentage changes in price. d. zero when price changes.
You go to a carnival in town intending to purchase rides for your children. When you get there they have an offer where everyone's first two rides are free. They obviously hope that the free rides will end up making them more money in the long run than if they charged for all rides. First, show on an indifference curve and budget line graph a solution that would make the free rides a bad idea for the company. Then, on a second graph, show a possible situation that would make the giveaway a success that should be repeated.
What will be an ideal response?
Monetary policy is conducted
A. solely by only the Federal Reserve. B. solely the president. C. by both the president and the Federal Reserve. D. by neither the president nor the Federal Reserve.