Demand curves slope downward to the right
a. True
b. False
Indicate whether the statement is true or false
True
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The magnitude of the government expenditure multiplier is ________ the magnitude of the tax multiplier
A) not comparable to B) greater than C) less than D) equal to E) greater than for expansionary policy and less than for contractionary policy
Which of the following best describes the effects of unions in the United States today?
A) The average union worker works more hours but earns a lower annual income than the average nonunion worker. B) The average union worker works fewer hours but earns a higher annual income than the average nonunion worker. C) The average union worker works more hours and earns a higher annual income than the average nonunion worker. D) The average union worker works fewer hours and earns a lower annual income than the average nonunion worker.
If supply increases, then quantity demanded decreases
a. True b. False
_____ believe that a government that takes an active role in the economy may do more harm than good because economic policy operates with a long and variable lag
a. Traditional Keynesians b. Keynesians c. Monetarists d. Classical economists e. New classical economists