Which of the following is most accurate about the period between the Civil War and World War I?
a. An increasing share of the U.S. population lived in rural areas.
b. Unions pursued strategies of peaceful negotiation with employers.
c. The average number of hours of work increased significantly during the period.
d. The difference between male and female wages decreased.
d. The difference between male and female wages decreased.
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Which of the following is classified as a final good or service?
i. tires bought by GM to put on new Tahoes ii. mustard bought by Subway to put on its sub sandwiches iii. your purchase of online access to the Wall Street Journal A) iii only B) i and ii C) i, ii and iii D) ii only E) ii and iii
The recurrent ups and downs in the level of economic activity extending over several years are a description of a:
A. recession. B. business cycle. C. business trough. D. noncyclical fluctuation.
The largest source of receipts for the federal government is
A. personal income taxes. B. Social Security taxes. C. corporate income taxes. D. capital gains taxes.
A radiologist buys a new x-ray machine from General Electric to use in her medical practice. This x-ray machine is included in GDP as
A. part of gross private domestic investment. B. a nondurable consumption good. C. a service. D. a durable consumption good.