According to the real business cycle theory, which of the following would be a real disturbance to the economy?
A) change in the required reserve ratio
B) reduction in the money supply
C) increase in the rate at which married women participate in the labor force
D) increase in the price level
C
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It can be argued that the minimum jobs proposal is preferable to a minimum wage law because:
a. it provides more job opportunities to women. b. it cannot be overturned by the federal government. c. it puts a floor on the wage as well as on the nature of the job. d. it applies to students and non-students.
Compared to the Erie Canal, the primary disadvantage of Pennsylvania canals was
a. state government resistance to providing funds for canal building. b. the steep, mountainous terrain of Pennsylvania. c. a pre-existing network of railroads in Pennsylvania. d. lack of adequate rainfall in Pennsylvania.