During the depths of the Great Depression the United States' official unemployment rate reached ________ percent.
A. 15
B. 20
C. 25
D. 30
C. 25
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Money and income are used interchangeably by noneconomists but mean different things.
Answer the following statement true (T) or false (F)
The first phase of a typical cycle of economic populism is usually
A) hyperinflation. B) rising growth and rising wages. C) falling growth and falling wages. D) rising unemployment. E) severe disinflation.
The basic economic problem is a situation of
A) limited resources and unlimited wants. B) both limited resources and limited wants. C) limited incomes and unlimited choices. D) unlimited incomes and limited choices.
The focus of the Ricardian model is on how:
a. countries' resource bases explain international trade. b. countries' different technologies explain international trade. c. transportation costs explain international trade. d. different languages and cultures explain international trade.