Because Congress decides on the federal government's budget during the year prior to when it will take effect, the tax laws and spending programs embodied in the budget ________ once they are in place. Because of this, the implementation lag for fiscal policy is ________.
A. are easy to change; often quite long
B. are hard to change; often quite long
C. are hard to change; usually very short
D. are easy to change; usually very short
Answer: B
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During the 1930s, labor legislation was
(a) generally favorable to organized labor. (b) generally unfavorable to organized labor. (c) generally neutral with regard to organized labor. (d) virtually the same compared to previous periods.
Suppose the Dow Jones Industrial Average has risen for three days in a row. According to the efficient markets theory of stock prices,
a. it will probably fall again tomorrow b. it will probably rise tomorrow to compensate for recent losses c. it is more likely to rise tomorrow than if it had fallen three days in a row d. it is just as likely to rise again tomorrow as if it had fallen three days in a row e. it will most likely remain unchanged tomorrow
Factor(s) explaining China's rapid growth
a. foreign trade zones b. high domestic savings c. Greater China d. China's export orientation e. All of the above
A market structure in which only one seller sells a product for which there are no close substitutes is called a
a. cartel b. oligopoly c. monopoly d. trust