How can government policy stimulate economic growth?
a. increasing spending on Social Security payments
b. decreasing spending on research and development forcing it to be more efficient
c. increasing research and development of new technology
d. decreasing spending to end the budget deficit
c. increasing research and development of new technology
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One reason the colonials complained about the Navigation Acts was
(a) the "shortage" of money; they believed the trade deficits of the colonies were bleeding them of coins. (b) the "surplus" of money that was causing inflation; they believed the trade deficits were flooding the colonies with coins. (c) the Acts' not allowing foreign coins, which created a "shortage" of foreign coins relative to British coins. (d) the Acts' requirement that only paper money would circulate in the colonies, without the backing of gold.
There has been an increase in the demand for chicken. This change can be shown graphically as a:
A. shift in the demand curve to the right. B. shift in the demand curve to the left. C. movement along the demand curve to the right. D. movement along the demand curve to the left.
Coffee and tea are:
a. complements. b. substitutes. c. inferior goods. d. unrelated goods. e. nonmarket goods.
Which of the following is a feature of a customs union?
a. The agreement only affects trade among members. b. The agreement only affects trade with nonmembers. c. The agreement establishes free trade among its members and a common trade policy with nonmembers d. The agreement provides mere guidelines and does not obligate members to any given policy. e. The agreement prohibits all tariffs.