Which Fed policy would be part of a restrictive monetary policy?
A) Raising tax rates.
B) Lowering the discount rate.
C) Selling government bonds.
D) Reducing the required reserve ratio.
E) None of the above.
C
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Compared to the 1973 to 1995 period, average real earnings of workers ________ from 1960 to 1973.
A. grew at about the same rate B. grew more slowly C. grew more rapidly D. declined
A reduction in net exports shifts the aggregate
A. demand curve inward. B. demand curve outward. C. supply curve outward. D. supply curve inward.
A soil bank program pays farmers not to grow food on some of their land
Indicate whether the statement is true or false
Which of the following is NOT a reason why there are gains to specialization?
A. It further improves skills through experience and practice. B. It increases the amount productive resources in the economy. C. It allows individuals to concentrate on the activities in which they have a comparative advantage. D. It eliminates many of the costs of switching from one task to another.