How do critics of stabilization policy view the "political business cycle"?
a. They suggest shorter election cycles would improve stabilization.
b. They believe that politicians cause economic instability, due mainly to the election schedule.
c. They believe that the Fed can resist political pressure and stabilize the economy.
d. They believe that politicians do not know enough economics in order to stabilize the economy.
b
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By the 1830s, young women and children
(a) were a very important portion of the industrial work force, about 40%. (b) were a minor portion of the industrial work force, about 10%. (c) were a moderate portion of the industrial work force, about 25%. (d) were not a part of the "industrial" work force because legislation forbade it in order to protect young women and children.
According to the text, critics point out that the costs incurred by firms due to regulations
A) increase production costs. B) lower production costs to the shutdown point. C) reduce taxes too far. D) none of the above.