How did Keynes propose to solve the problem of high unemployment?
A) Increase the growth rate of the money supply.
B) Allow wages to decline, so that firms will want to hire more workers.
C) Put on wage and price controls, so wages won't rise and firms won't have to lay people off to cut costs.
D) Have the government increase its demand for goods and services.
D
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What is a major reason international trade is restricted?
A) rent seeking B) to allow competition with cheap foreign labor C) to save jobs D) to prevent dumping E) to eliminate monopolies
Two taxes that have consumption as a tax base are ____ taxes and _____ taxes
a. income; general sales b. general sales; valued-added c. excise; income d. estate; retail sales
A monopolist’s demand curve implies that
A. the monopolist is a price taker. B. the monopolist is a price maker. C. it has nothing to do with the amount a monopolist can sell. D. it can be downward sloping or horizontal depending on the price.
During a sustained economic expansion,
a. the rate of unemployment will generally fall and the employment/population ratio will generally rise. b. the rate of unemployment will generally rise and the employment/population ratio will generally fall. c. both the rate of unemployment and the employment/population ratio will generally decline. d. both the rate of unemployment and the employment/population ratio will generally rise.