If the government wants to decrease the quantity consumed of cigarettes 20%, what percentage of tax would they have to levy on cigarette consumption?

The time it takes for a particular monetary policy to change income is called the _____

a. recognition lag b. data lag c. reaction lag d. effect lag e. action lag

If the government increases funding to college work-study programs, which of the following would happen in the labor market?

a. Wages will increase and the labor force will increase. b. The labor force will decrease but there will be an ambiguous change in the wage. c. Wages will decrease and the labor force will increase. d. The labor force will increase but there will be an ambiguous change in the wage. e. Wages will increase and the labor force will decrease.