"Unions make it difficult for government to reduce the rate of unemployment." Discuss the logic underscoring this view and show how it relates to the Phillips curve.
Answer to relevant Questions"In periods of inflation, any attempt by the Fed to increase real GDP through increases in the money supply ends up increasing only the rate of infla tion." What school of economists makes this point? How do they make their ...In some instances, government spending may trigger a "crowding out" outcome that undermines the reason for the government spending. What is "crowding out" and how can government spending cause it? If government decides, it can reduce defense spending and even spending on education to a penny, but it can't do that with Social Security. Why not? (Hint: Distinguish between a trust fund and discretionary government ...What is the relationship between the public debt and the debt-to-GDP ratio? How does the U.S. debt ratio compare to the ratios in other demo cratic market economies? Many Detroit autoworkers do not buy the argument that everybody gains in international trade. What's their point?
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