A. business cycles are caused by insufficient supply
B. a decline in aggregate supply is responsible for economic downturns
C. an increase in aggregate supply causes output and employment to decline
D. none of the above
Related Mcqs:
- According to supply side economists as tax rates are reduced labour supply should increase. This implies that ?
A. There is no income effect when tax rates are changed
B. The income effect of a wage change is greater than the substitution effect of a wage change.
C. There is no substitution effect when tax rates are changed
D. The substitution effect of a wage change is greater than the income effect of a wage change - The democratic state is based on the social contract theories of Locke and Rousseau These theories maintain that ?
A. people must obey the rulers at all times
B. the rulers govern at the direction of God
C. the people allow themselves to be governed for their own good
D. a society cannot exist without authoritarian rulers - Ethnocentrism has two meanings The version which may alternatively be called ethnochauvinism refers to the conviction that__________________?
A. one,s own culture subculture or society is best bar none
B. women are subordinate in every culture
C. other cultures can be judged by the standards of one,s own
D. the males of a given ethnic group are superior - It is correct to say that__________________?
A. change is only a recent situation
B. the more things change the more they remain the same
C. the rate of change has increased in recent years
D. change has been the downfall of societies - Meads work in New Guinea indicated that__________________?
A. biology totally controls social role behavior
B. all tribes in her study stressed male aggression and hostility
C. sex role behavior is conditioned differently in different cultures
D. men are men and women are women everywhere - A lake is polluted The fish in it die The algae make unpleasant odors It may be said that__________________?
A. the ecosystem is disturbed
B. biological capital is lost
C. the environment is degraded
D. all of the above - Studies have found that__________________?
A. victims of child abuse become troubled adults
B. the more severe the abuse the more extreme the later psychiatric symptoms
C. not all abused children go on to abuse their own children
D. all of the above - Which of the following would be considered a supply-side policy ?
A. An increase in the minimum wage that would cause consumer spending to increase
B. Investment tax credits for businesses to encourage investment
C. Restrictions placed on the amount that can be imported
D. An increased in government spending that would lead to increased aggregate demand - According to supply-side economists if taxes are cut so that people have an increased incentive to work and businesses have an increased incentive to invest ?
A. aggregate supply will increase , aggregate demand will decrease
B. aggregate supply will increase, aggregate output will increase and the price level will decrease
C. aggregate supply will increase aggregate output will increase and the price level will increase
D. both aggregate supply and demand will increase and the price level will increase - The newest challenge to the family,s formerly exclusive claim to the socialization of its children has come from ?
A. the peer groups
B. the mass media
C. the day-care center
D. child psychotherapy
