Category: Economics

In an imperfectly competitive labor market, the cost of labor inputs and the value of the products sold will _________ vary as more or less labor is hired.
not
both
neither
none of the above

A Gial of 0 implies thatevery femily has an equal amoun of lincome.the bottom one of the families have only iOS of the total income.the bottom 20% of the families have 80% of the total income.

Which households are more likely to be victims of a property crime?
Lower-income households
Higher-income households
Smaller households of four people or fewer
Households in a homogenous neighborhood

Answer questions 8 to 10 based on the following information.
Number of Workers
Units of Output
0
0
1
40
2
90
3
126
4
150
Output (Total Product) is maximized when average productivity is at its maximum.

Under what condition is fiscal policy most effective?
When inflation is rising rapidly
When government spending is decreasing
When the economy is at full employment
When many resources are unemployed

All of these are advantages of monetary policy over fiscal policy.
speed and flexibility
isolation from political pressure
monetary policy is more stable than fiscal policy