Which of the following scenarios would serve to decrease the demand for unskilled labor in the U.S.?
a. increased productivity gains among unskilled laborers
b. increased demand for goods produced by unskilled laborers
c. increased international trade with countries where unskilled labor is more plentiful
d. increased supply of migrant workers
c
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A supply curve is defined as the relationship between
A) the price of a good and the quantity that producers are willing to sell. B) the income of consumers and the quantity of a product that producers are willing to sell. C) the income of consumers and the quantity of a product that consumers are willing to buy. D) the price of a good and the quantity that consumers are willing to buy.
Discretionary fiscal policy is best defined as:
a. the deliberate change in tax laws and government spending to change equilibrium income. b. the deliberate manipulation of the money supply to expand the economy. c. the arbitrary fluctuation in tax laws and budget requirements. d. the automatic change in certain fiscal instruments when real GDP changes. e. the policy action taken by the Congress to reduce the federal budget deficit.
Which of the following will decrease if the Fed sells bonds?
a. autonomous consumption. b. business investment. c. real GDP. d. none of the above.
If the federal funds rate rises above the Fed's target range, the Fed should take:
A. an offensive action and sell government bonds. B. a defensive action and buy government bonds. C. a defensive action and sell government bonds. D. an offensive action and buy government bonds.