Among full-time U.S. workers, white women earn about _______ percent less than white men, and black men earn about ________ percent less than white men.
a. 5, 40
b. 20, 20
c. 20, 40
d. 5, 20
Ans: b. 20, 20
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Indicate whether the statement is true or false
Suppose the government wants to increase the price of a specific agricultural product. Discuss the welfare effects of four possible policies: price floor, price support, production quota and voluntary production reduction. Which policy is least efficient? Discuss the differences in the benefits to farmers and the cost to the government.
What will be an ideal response?
Contractionary fiscal policy consists of:
a. increased government purchases and increased taxes. b. decreased government purchases and decreased taxes. c. decreased government purchases and increased taxes. d. increased government purchases and decreased taxes.
Assume a nation has a fixed exchange rate, and the central bank increases the required reserve ratio. What is the net effect on the monetary base (given fixed exchange rates)? Answer assuming all the adjustments have worked their way through the macroeconomic system, and it is in equilibrium
a. The monetary base rises. b. The monetary base falls. c. The monetary base is not affected in this example. d. The monetary base can not change because of the "Impossible Trilogy." e. The change in the monetary base is ambiguous.