Based on the graph showing a reduction in the growth of the money supply, the implication of the economy moving from point D to point F is that policies to alter output or unemployment ______.
a. can eliminate long-term unemployment problems
b. can help the economy sustain high output levels over long periods
c. take a long time to produce any noticeable effects
d. are ineffective over time because the economy returns to natural levels
d. are ineffective over time because the economy returns to natural levels
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How does a tariff affect the consumer surplus and the producer surplus from the imported good? Is the overall economy helped or harmed by tariffs? Briefly explain your answers
What will be an ideal response?
The Clayton Act was passed in
a. 1887 b. 1890 c. 1914 d. 1936 e. 1952
The economic impact of a change in spending, working through the multiplier, takes effect
A. immediately. B. very quickly, with a small number of rounds of spending. C. after a very long period of time. D. after multiple rounds of spending occur.
The general equilibrium analysis of a minimum wage applied to only some sectors of the economy suggests that
A) workers in all sectors will face increased wages. B) some workers in the covered sectors will lose their jobs and remain unemployed. C) some workers originally employed in the covered sectors will move to the uncovered sectors, driving down wages in the uncovered sectors. D) all workers will be worse off.