Job rationing occurs when the real wage rate is
A) above the equilibrium wage rate so there is a shortage of labor.
B) above the equilibrium wage rate so there is an excess supply of labor.
C) equal to the equilibrium wage rate so there is no excess supply of labor.
D) below the equilibrium wage rate so there is an excess supply of labor.
E) Both answers A and D are correct because whenever the real wage rate is above or below the equilibrium wage rate, there is an excess supply of labor.
B
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A. 1/4 B. 4 C. 1 D. 2
Attempts to fine-tune the economy through counter-cyclical fiscal policy
A) demonstrated their effectiveness in the 1930s. B) demonstrated their effectiveness during World War II. C) demonstrated their effectiveness between 1945 and 1960. D) have not yet demonstrated their effectiveness.
All of the following are examples of public goods that government has assumed responsibility for over the years except
a. national parks b. interstate highways c. sewage systems d. street lighting e. stock exchanges
Did President Obama's $787 billion fiscal stimulus package of early 2009 work? Name several facts in support of the proposition that it did. Also, list the arguments of the skeptics