Which of the following represents a good time for a country's government to use its fiscal policy to increase taxes:
A. While the economy is expanding
B. When a recession lasts too long
C. When inflation is too high
D. While the economy is contracting
C. When inflation is too high
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If worker output is not measurable in physical units, and employees are hard to monitor, it would be best to organize the firm using
A) a command system. B) a monitoring system. C) an incentive system. D) None of the above answers is correct.
Explain why a government may select an inefficient allocation
What will be an ideal response?
The federal deficit ________ in 2006 and 2007, and ________ in 2008.
A. increased; decreased B. increased, increased further C. decreased; increased D. decreased; decreased further
The extent of job creation and job destruction is
What will be an ideal response?