By mid-century, American workers benefited by state regulations providing for
a. a minimum wage in manufacturing.
b. pensions for long-term employees.
c. a ten-hour upper limit on the work day.
d. periodic breaks for workers during the work day.
e. All of the above.
c. a ten-hour upper limit on the work day.
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Econville suffers from a massive earthquake and tsunami that destroys a fourth of its physical resources. What happens to the production possibility frontier?
a. The production possibility frontier does not change. b. The production possibility frontier shifts to the right. c. The production possibility frontier shifts to the left. d. The production possibility frontier shifts down for capital goods but does not change for consumer goods.
The first three elements of a financial crisis are correctly represented as taking place in the following order:
a. large decline in some asset prices ? insolvencies at financial institutions ? decline in confidence in financial institutions b. insolvencies at financial institutions ? decline in confidence in financial institutions ? large decline in some asset prices c. insolvencies at financial institutions ? economic downturn ? credit crunch d. insolvencies at financial institutions ? credit crunch ? economic downturn
In recessions, we expect to run federal budget ___ bc govt spending will be ____ tax revenues.
a. balances; equal to b. surpluses; greater than c. surpluses; smaller than d. deficits; greater than e. deficits; smaller than
What causes a decrease in income in this graph?
a. The total of areas d + f is less than the total of areas e + d.
b. The total of areas d + f is more than the total of areas e + d.
c. The total of areas e + f is less than the total of areas e + d.
d. The total of areas e + f is more than the total of areas e + d.