President Woodrow Wilson
(a) fostered the growth of government bureaucracy.
(b) quickly returned the U.S. economy to a competitive market place.
(c) remained neutral on the issue of whether the federal government
should intervene in private market affairs.
(d) mandated that Congress operate with a balanced budget.
(b)
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The figure above shows the market for low-skilled labor in Midland city. The government sets a minimum wage at $6 per hour. The minimum wage ________ the employers' surplus by ________ million per year
A) decreases; $60 B) decreases; $120 C) increases; $40 D) increases; $100
In general, the supply curve for a natural resource
A) slopes upward. B) slopes downward to reflect decreasing available quantities over time. C) is horizontal. D) is vertical.
Which of the following demonstrates the law of supply?
a. When the price of leather belts rose, leather belt sellers increase their quantity supplied of leather belts.
b. When car production technology improved, car producers increased their supply of cars.
c. When sweater producers expected sweater prices to rise in the near future, they decreased their current supply of sweaters.
d. When ketchup prices rose, ketchup sellers decreased their quantity supplied of ketchup.
Under adaptive expectations, the expected current value of a variable does not depend on a recently observed value of the variable.
Answer the following statement true (T) or false (F)