Monetary policy can influence interest rates, which in turn can change spending
a. True
b. False
Indicate whether the statement is true or false
True
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If spending is NOT responsive to changes in the interest rate, then the
A) LM curve is vertical. B) IS and LM curves are vertical. C) IS curve is vertical. D) IS curve is vertical and the LM curve is horizontal.
An effective minimum wage law will increase the quantity of labor demanded
a. True b. False Indicate whether the statement is true or false
According to the text, one of the disadvantages of our current welfare system is that
A. it gives the poor too much money. B. it provides incentives for the poor not to work. C. it works in the opposite direction of Rawl's view of justice. D. it is biased in favor of rich people.
If C = 200 + 0.5Y and I = 100, then the equilibrium level of income is
A. 175. B. 300. C. 400. D. 600.