Among the world’s major industrial countries, the nation with the lowest unemployment rate in 2010 was
a. Germany.
b. the United States.
c. Japan.
d. France.
c. Japan.
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The economic way of thinking is
A) a biased perspective at the present time, and we should eliminate bias from economics. B) a biased perspective, but the existence of bias does not mean the discipline should be condemned. C) biased only when it is used to argue for particular policies. D) unbiased because economics is a science. E) unbiased insofar as its conclusions are drawn exclusively from actual facts.
The mathematicians and economists who have been hired by Wall Street firms to build mathematical models to aid the pricing of derivatives are generally referred to as
A) speculators. B) hedgers. C) rocket scientists. D) market makers.
A new U.S. tariff on Mexican avocados would be likely to: a. raise the price of avocados to U.S. consumers
b. increase U.S. consumption of domestically produced avocados. c. increase total U.S. consumption of avocados. d. do both a. and b.
Government expenditures for Social Security and unemployment benefits are examples of
a. government consumption. b. government investment. c. government purchases. d. transfer payments.