Which of the following groups designs policies that are best at eliminating stagflation?
A. New classical economists.
B. Monetarists.
C. Supply-side economists.
D. Keynesians.
Answer: C
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Compared with fiscal policy, monetary policy is:
a. more depenent on congressional actions b. quicker and easier to implement c. slower and more cumbersome to implement d. more likely to produce an offsetting net export effect
According to the principle of subsidiarity, in which of the following areas should the authority for making decisions be taken from national governments and given to the EU?
A) Pollution of a trans-national waterway B) Limits on the hours retails stores are allowed to be open C) Highway traffic laws D) Recycling requirements on packaging E) All of the above.
In the above table, if the marginal revenue product is $26, how many workers will the profit maximizing monopsonist hire and what wage will they pay each worker?
A) 5; $18 B) 5; $16 C) 4; $16 D) 6; $30
What would happen if the Fed tried to keep employment above the full-employment level?
a. The long-run aggregate supply curve would shift to the right. b. The aggregate supply curve would shift downward. c. Unemployment would increase. d. The price level would increase. e. The aggregate demand curve would shift to the left.