Refer to the information provided in Figure 4.5 below to answer the question(s) that follow.
Figure 4.5Refer to Figure 4.5. The United States imports 9 million CD-Rom drives at a world price of ________ per CD-Rom drive.
A. $15
B. $25
C. between $15 and $25
D. >$25
Answer: A
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Refer to Figure 13-1. Ceteris paribus, a decrease in government spending would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
As you move rightward on a marginal cost of abatement curve, emissions are
A) falling, and the cost of eliminating the marginal unit falls. B) rising, and the cost of eliminating the marginal unit falls. C) falling, and the cost of eliminating the marginal unit rises. D) rising, and the cost of eliminating the marginal unit rises. E) rising, and the cost of eliminating the marginal unit is constant.
What is the most important factor that explains differences in living standards among countries?
a. labor unions b. minimum wage laws c. productivity d. efficiency
In the United States, presidential elections occur every four years. If a political business cycle exists in the United States, in which year of a presidential term, all else fixed, would we expect output growth to be highest?
A) the first year B) the second year C) the third year D) the fourth year