The Full Employment Act of 1946 was based on the ideas associated with the
a. classical school
b. Keynesian school
c. rational expectations school
d. supply-side school
e. monetarist school
B
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All of the following describe trends in the labor markets of the industrialized world EXCEPT:
A. growing wage inequality. B. substantial growth in real wages over the twentieth centaury C. low rates of unemployment in Western Europe. D. a slowdown in real wage growth since the 1970s.
If net exports increases, but neither government expenditure nor net taxes change, saving must increase
Indicate whether the statement is true or false
When the Fed buys government bonds on the open market,
A. the market rate of interest on government bonds are lowered AND the market rate of interest on corporate bonds are lowered. B. the market rate of interest on corporate bonds are increased. C. government yields drop but corporate yields rise. D. government and corporate yields rise.
Which of the following increases the supply of corn?
a. Farmers that grow soybeans can also grow corn, and the price of soybeans drops by 75 percent. b. Congress and the President eliminate subsidies formerly paid to corn farmers. c. The farm worker's union successfully negotiates a pay increase for corn harvest workers. d. The Surgeon General announces that eating corn bread contributes to baldness in men.