The real burden of an increase in the public debt:
A. may be very small or conceivably zero when the economy is in a severe depression.
B. will be smaller when full employment exists than when the economy has large quantities of
idle resources.
C. can be shifted to future generations if the debt is internally financed.
D. can best be measured by the dollar increase in the size of the debt.
A. may be very small or conceivably zero when the economy is in a severe depression.
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Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a concert ticket. If the price of one ticket rises from $20 to $38
A) only three tickets will be sold. B) no one will buy a ticket. C) consumer surplus decreases from $62 to $12. D) consumer surplus increases from $88 to $142.
How does an increase in the relative price of a country's goods in terms of foreign goods, or real exchange rate, affect its balance of trade?
A) An increase in the real exchange rate reduces imports, raises exports, and increases the balance of trade. B) An increase in the real exchange rate raises imports, reduces exports, and reduces the balance of trade. C) An increase in the real exchange rate reduces imports, raises exports, and reduces the balance of trade. D) An increase in the real exchange rate raises imports, reduces exports, and increases the balance of trade.
"Hicks' Third Law of Demand" states that "most" goods must be:
a. gross substitutes. b. gross complements. c. net substitutes. d. net complements.
Which of the following provides monetary damages in cases of intentional employment discrimination?
a. Equal Pay Act of 1963 b. Civil Rights Act of 1964 c. Civil Rights Act of 1991 d. Fair Labor Standards Act of 1938