Related to the Economics in Practice on page 216: According to the survey discussed in the Economics in Practice,
A. almost all workers were willing to give up over 50 percent of their wages, but almost none were willing to give up other benefits, to avoid employer discretion in hours.
B. workers were not willing to give up any of their wages to avoid employer discretion in hours.
C. workers were willing to give up other benefits, but not their wages, to avoid employer discretion in hours.
D. workers were willing to give up 20 percent of their wages to avoid employer discretion in hours.
Answer: D
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Refer to Figure 4.2. A shift from D2 to D1 will result from which of the following?
A) an increase in expected future profits B) an increase in net exports C) an increase in corporate taxes D) a decrease in tax credits for savings
Which of the following is the most frequently used tool the Fed uses to control the supply of money?
a. The discount rate. b. The reserve requirements. c. Open market operations. d. The 30-year home-mortgage interest rate.
Both inflation and deflation refer to a change in ______.
a. the price level b. the minimum wage c. the efficiency wage d. the equilibrium wage
The process of turning a government enterprise into a private enterprise is:
A. marketization. B. entrepreneurship. C. nationalization. D. privatization.