________ occurs when the direction of cause and effect is mixed up in a study
A) Adverse causality B) Omitted variable bias
C) Reverse causality D) Limited information bias
C
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Government assistance to workers whose employment prospects have worsened is called:
A. the minimum wage. B. worker mobility payments. C. transition aid. D. social security.
Autonomous consumption spending is consumption spending
a. that is dependent on changes in income b. on durable goods c. that causes the MPC to rise d. that is independent of the level of income e. that causes the MPC to fall
Answer the following statements true (T) or false (F)
1. The purpose of using the four-firm concentration ratio is to calculate how much market share would change in the case of a merger between two of the firms. 2. A minimum price contract is illegal because it would restrict competition. 3. One regulatory option for dealing with natural monopolies is to leave them alone. 4. The purpose of the Dodd-Frank Act was to address numerous accounting scandals involving prominent corporations such as Enron, Tyco International, and WorldCom that occurred as a result of deregulation. 5. If firms were required to pay the social costs of pollution, they would create less pollution but produce less of the product and charge a higher price.
Use the following list of modern macroeconomic theories in order to describe the following statement: Discretionary fiscal and monetary policies are effective tools of economic stabilization.
A. Keynesian economics B. Monetarism C. The theory of rational expectations D. New Classical Economics