A. There is a role for fiscal policy B. There is a role for monetary policy C. There is a role for supply-side policy D. There is a role for stabilizing output ever the business cycle
A. Will usually lead to more people employed B. Will decrease total earning if the demand for labour is wage elastic C. Is illegal in a free market D. Will cause a shift in the demand for labour
A. A lower equilibrium wage and lower quantity of labour B. A lower equilibrium wage and higher quantity of labour C. A higher equilibrium wage and higher quantity of labour D. A higher equilibrium wage and lower quantity of labour
A. Upward sloping due to the law of demand B. Upward sloping due to the law of marginal utility C. Downward sloping due to the law of diminishing returns D. Downward sloping due to the law of supply
A. Imposing higher taxes on capital B. Encouraging more labour intensive work to reduce unemployment C. Reducing spending in education D. Encouraging private investment
A. Economic growth is zero B. All investment is used in the manufacturing sector C. Economic growth is growing D. All investment is used to maintain the existing capital stock at its current level
