The unconstrained supply of labor refers to the amount a household ________ within a given period at the current wage rate if it could find the work.
A. chooses not to work
B. would like to work
C. actually works
D. is forced to work
Answer: B
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Classical theory advocates _____________ policy and Keynesian theory advocates ______________ policy
a. nonintervention; intervention b. active; nonstabilization c. stabilization; fixed wage d. fixed rule; passive
The U.S. provides about _____ percent of the annual membership fees of IMF member countries
a. 5.6 b. 10.2 c. 15.3 d. 17.3 e. 22.4
Expansionary fiscal policy can cause a rise in real GDP in combination with
a. an increase in the price level. b. a decrease in the price level. c. no change in the price level. d. a decrease in the price level if the aggregate supply curve is upward sloping.
Protection of a new industry until it becomes strong enough to compete is called
A. the national defense argument. B. the infant-industry argument. C. the leveling-the-playing-field argument. D. the government indirect tax argument.