Which of the following is an example of a black market activity?
a. Purchasing banned drugs from an individual in a vacant lot
b. Purchasing drugs from a pharmacy
c. Purchasing automobiles from an authorized dealer
d. Purchasing stocks and bonds
a
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Approximately what percentage of food stamps are issued to individuals who are not entitled to them?
a. 5 percent b. 15 percent c. 25 percent d. 35 percent
Capital deepening refers to: a. an increase in the amount of capital per worker
b. an increase in the amount of workers per unit of capital. c. a decrease in the amount of capital per unit of output. d. an increase in the amount of output per unit of capital. e. an increase in the productivity of capital.
Income elasticity has a range of
A) greater than or less than one. B) greater than or less than zero. C) greater than or less than negative one. D) less than zero but greater than one.
Which of the following statements most likely lies within the realm of microeconomics? a. Unemployment rises during a recession and falls during an expansion
b. A rapid acceleration of the supply of money may create inflation. c. An increase in government spending will increase the aggregate demand for goods and services in the economy. d. An increase in labor costs will increase the additional cost of producing another airplane.