Most economists and policy makers decided in 2007-2010 that reducing unemployment was the main national priority
a. True
b. False
Indicate whether the statement is true or false
True
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Most changes in tax laws tend to be small changes because _____
a. the organizing costs of large coalitions are too high b. logrolling is easier when tax laws effect only a small number of individuals c. special interests are constantly demanding changes that will benefit them d. of the rules of the Senate
Distinguish between craft unions and industrial unions
What will be an ideal response?
When numerous Japanese companies buy $100,000,000 worth of goods or services from U.S. producers, ceteris paribus, there will be
A) appreciation in the value of the yen against the dollar. B) depreciation in the value of the yen against the dollar. C) depreciation of the dollar against the yen. D) no change in values of the currencies.
Which of the following might explain why the government would create a price ceiling for a certain good?
a. The equilibrium price that would result in the market would be considered too high b. The equilibrium price that would result in the market would be considered too low c. The equilibrium quantity that would result in the market would be considered too high d. The equilibrium quantity that would result in the market would be considered too low e. The government never has a reason to create price floors or price ceilings