Most development economists agree that the most basic and important task of any government is to:
A. maintain a stable currency.
B. ensure basic education for all citizens.
C. create a stable political system.
D. provide national health care system.
Answer: C
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Why is there unemployment even when the economy is at "full employment"?
What will be an ideal response?
Graphically we can illustrate a firm with price setting ability by drawing its demand curve as ________
A) downward sloping B) upward sloping C) horizontal D) vertical
The aggregate supply curve will be vertical when:
a. output can be increased without an increase in the price level. b. the economy is operating at full-employment capacity. c. output and price level rise together. d. the aggregate demand curve is shifting to the left. e. aggregate demand is absent.
The set of fiscal policies that would be most contractionary would be a(n)
A. decrease in government purchases and an increase in taxes. B. increase in government purchases and a decrease in taxes. C. increase in government purchases and taxes. D. decrease in government purchases and taxes.