Labor-market regulations in developing countries
a. always reduce employment
b. usually reduce employment
c. may reduce employment, but the evidence is weak
d. rarely reduce employment
e. none of the above
C
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Discretionary fiscal policy occurs when: a. the government passes a new law that changes tax or spending levels. b. the government borrows funds from the public
c. the Federal Reserve issues new currency notes. d. the Federal Reserve increases the market interest rate.
The productivity of the agriculture sector (of the economy) increases dramatically. A likely consequence is:
A) increased resources flowing into the agriculture sector. B) an increase in the supply of foodstuffs and lower prices for foodstuffs. C) an increase in the total revenue (farmers' receive) from selling foodstuffs, assuming the demand for their products is elastic. D) a decrease in the total revenue (farmers' receive) from selling foodstuffs, assuming the demand for their products is inelastic. E) none of the above