Which of the following is nonrival in character?
A) labor
B) capital
C) a desk
D) technology
D
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An increase in unemployment insurance payments would, in effect, ________ the amount of time spent searching for a job, which would increase ________ unemployment
A) decrease; frictional B) increase; frictional C) increase; cyclical D) decrease; cyclical
Withholding of the federal income tax _____
a. was first used during the civil war b. was first used during World War I c. was first used during World War II d. was first used after World War II
The effects of a decline in the value of financial assets, such as stocks, on consumption and the economy might be offset by
a. increasing government spending. b. decreasing the money supply. c. increasing taxes. d. undertaking no policy action.
Normative economics is:
a. based on facts b. based on value judgments c. based on the use of the scientific method d. applicable only to macroeconomics