An initial allocation of goods is called a(n)
A) endowment.
B) inheritance.
C) pareto set.
D) general-equilibrium goods set.
A
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Refer to the figure above. If the government sets the minimum wage rate at $35, the unemployment in the market will be:
A) 20 units of labor. B) 25 units of labor. C) 15 units of labor. D) 10 units of labor.
In which of the following periods did average labor productivity in the United States grow the fastest?
A) 1929 to 1935 B) 1949 to 1973 C) 1973 to 1995 D) 1995 to 2008
A major problem in developing an activist policy is
A) uncertainty about the magnitude of the dynamic multiplier. B) uncertainty about the length and variability of policy lags. C) uncertainty about the costs of various policies. D) All of the above are correct.
In the neoclassical growth model, if two countries are exactly the same but one has a lower permanent budget deficit, we would expect that country to have
a. higher output, a higher capital-to-labor ratio, and higher output growth in the steady state. b. the same output and capital-to-labor ratio, but higher output growth in the steady state. c. higher output, the same capital-to-labor ratio, and the same output growth in the steady state. d. higher output, a higher capital-to-labor ratio, and the same output growth in the steady state.