The sum of past federal deficits is reflected in the federal:
a. cyclical debt.
b. Congressional debt.
c. national debt.
d. GDP debt.
c
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Why is gold very expensive, even though it is not essential to life, while water, which is essential to life, is inexpensive?
What will be an ideal response?
By the 1840s,
(a) labor had achieved political power in the franchise, i.e., the right to vote. (b) unions per se were not considered by law to be conspiracies and therefore illegal. (c) peaceful picketing of businesses during strikes was considered to be legal. (d) all of the above were true.
A price ceiling that is set above the equilibrium price
A) causes suppliers to raise their prices. B) is binding. C) is non-binding. D) creates a shortage.
When the price of a good is $5, the quantity demanded is 100 units per month; when the price is $7, the quantity demanded is 80 units per month. Using the midpoint method, the price elasticity of demand is about
a. 0.22. b. 0.67. c. 1.33. d. 1.50.