Suppose we want to know how much money your grandparents would have to earn now to have purchasing power equivalent to their income in 1969. We could:
A. translate their nominal income in 1969 into constant, real dollars of today.
B. translate their nominal income today into 1969 dollars.
C. take a ratio of their income today with their income from 1969.
D. None of these statements is true.
A. translate their nominal income in 1969 into constant, real dollars of today.
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In the past the federal government often employed what is called a "command-and-control" approach to the reduction of pollution emissions. Many economists are critical of this approach because
A) they believe a market-based approach will reduce pollution more efficiently. B) it does not lead to significant reductions in pollution. C) the "command-and-control" approach leads to negative externalities. D) the "command-and-control" approach is designed to help firms at the expense of consumers.
Identify the characteristic of a U-form organization from the following
a. A divisionally organized firm is often called a U-form firm. b. The heads of the different branches at different locations report to the headquarters. c. Information submitted by all departments are used by the headquarters to make all the decisions. d. There is a substantial degree of inter-dependence between various departments.
According to the text, a country with a considerable amount of economic freedom will experience
A. low levels of political freedom. B. dead capital. C. negative rates of per capita income growth. D. positive rates of per capita income growth.