New immigration laws championed by the Kennedy and Johnson administrations
a. established a quota system based on ethnic background.
b. allowed for unlimited immigration.
c. placed a high priority on uniting families.
d. led to reduced immigration rates in the 1960s and 1970s.
e. All of the above.
c. placed a high priority on uniting families.
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Other things being equal, an increase in consumption spending implies
A) a decline in saving. B) that economic growth will soon increase. C) a higher standard of living in the future. D) a decline in government spending.
Which of the following is a way to tax leisure?
a. Tax complements to leisure. b. Subsidize substitutes to leisure. c. Increase income taxes. d. Tax unearned income.
Technically speaking, when the firm's output level is zero, its total revenue equals
a. zero b. its fixed cost c. its variable cost d. its marginal revenue e. its average revenue
Which of the following would shift the Phillips curve to the left?
A. Contractionary fiscal policy. B. A decrease in the regulation of business. C. Contractionary monetary policy. D. An increase in import tariffs.