The National Recovery Act:
a. largely redistributed rather than expanded incomes.
b. cut unemployment in half.
c. was declared unconstitutional by the Supreme Court.
d. Both a and b are correct.
e. Both a and c are correct.
e. Both a and c are correct.
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Government action can usually perfectly correct the market's shortcomings
a. True b. False Indicate whether the statement is true or false
The use of foreign exchange reserves to keep exchange rates constant over time is called
A) a fixed exchange rate system. B) the Bretton Woods system. C) barter exchange system. D) a floating exchange rate system.
Within neoclassical growth theory, technological change ________ saving and ________ investment
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
Which of the following statements is true?
a. b and d. b. Total revenue is maximized when elasticity is one. c. Goods are said to be price inelastic when the elasticity is greater than two. d. Demand for milk is more elastic than demand for football tickets. e. Demand for 5-cent candy is more elastic than demand for sweaters.