Pirates have been intensely attacking ships off the shore of Somalia this year. Boat owners have reportedly coughed up more than $30 million in ransom and insurance premiums have shot up
The pirate activity and increase in premiums means that the expected wealth of boat owners who sail near Somalia is ________. A) decreasing
B) increasing
C) staying the same
D) decreasing only if they have insurance
A
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Affirmative action programs serve three purposes. Which of the following is not one of those purposes?
A) Address current issues of discrimination. B) Enhance diversity in places where it is of particular value. C) Redress past wrongs. D) Guarantee employment regardless of qualifications.
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.
Between 2007 and 2009, the unemployment rate in the U.S.:
A. Fell from 6% to 4.5% B. Rose from 4.7% to 10% C. Rose slightly from 5.5% to 7% D. Remained stagnant at about 7%
If the economy was closed to international trade, the equilibrium GDP and the multiplier would be:
Complete the following table and answer the question on the basis of the resulting data. All figures are in billions of dollars.
A. $300 and 5.
B. $350 and 4.
C. $400 and 4.
D. $350 and 5.