Wealthy families wanting finer homes and nicer vacations exemplify
A. capital.
B. production.
C. resources.
D. scarcity.
Answer: D
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The long-term pattern of American foreign trade policy from 1789 to 1914 was
(a) protectionist at first, becoming more liberal before 1861, then more protectionist again. (b) liberal at first, becoming more protectionist before 1861, then shifting to greater liberalism as the country's industrialization spread in the later 19th century. (c) free trade after the Civil War, but very protectionist in general before 1861. (d) none of the above.
The Keynesians believe that
a. the Fed played a primary role in driving the Great Depression. b. the Fed played an important role in preventing the Great Depression from being worse than it could have been. c. the Fed played a negative but secondary role in the Great Depression. d. the Federal Reserve did all it could to prevent the Great Depression but essentially played no role in it.
The profitability of an investment project will increase if
a. tax rates increase. b. real interest rates increase. c. real interest rates decrease. d. business tax deductions decrease.
U.S. net exports are:
A.) Equal to the value of exports minus the value of imports. B.) Positive if the U.S. imports more than it exports. C.) A larger portion of GDP than investment. D.) Always equal to zero.