Identify the correct statement
A) Countercyclical monetary policy stimulates the economy during a recession by shifting the labor demand curve to the left.
B) Countercyclical fiscal policy stimulates the economy during a recession by shifting the labor demand curve to the left.
C) Countercyclical monetary policy slows down the growth rate of an economy during an expansion by shifting the labor demand curve to the right.
D) Countercyclical fiscal policy stimulates the economy during a recession by shifting the labor demand curve to the right.
D
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As a general rule, consumers have
a. limited income. b. unlimited desires for goods. c. many choices of goods facing them. d. All of the above are correct. e. None of the above are correct.
Which of the following statements is true?
a. When central planners set prices above equilibrium for goods and services they create shortages. b. Adam Smith argued that government's role in society would be to do absolutely nothing. c. The United States today comes closer to the socialist form of economic organization than it does capitalism. d. According to Karl Marx, under capitalism, workers would be exploited and would revolt against the owners of capital.