A 2005 U.S. Supreme Court ruling was considered very controversial because the justices cited international opinion regarding
a. human trafficking.
b. undocumented immigrants.
c. abortion.
d. the death penalty.
d. the death penalty
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To close a recessionary gap, the Federal Reserve must ________ real interest rates by ________ the money supply.
A. increase; decreasing B. decrease; increasing C. increase; increasing D. decrease; decreasing
China's growth rate has ________ that of most other countries, ________
A) topped; but its real GDP per person is still lower than other industrialized countries B) lagged behind; and its real GDP is close to other Asian economies C) lagged behind; but its real GDP per person is higher than other Asian economies D) topped: but its real GDP per person declined in 2008-09 E) equaled; and its real GDP per person declined in 2008-09
If all producers in a market are cartel members, then the demand curve facing the cartel is
A) the market demand curve. B) horizontal. C) identical to the demand curve in the dominant firm model. D) identical to the monopolist's demand curve.
Each of the following is an example of the price mechanism at work, except when
A. wage and price controls were used during World War II to control inflation. B. consumers curtailed driving their cars when the price of gasoline increased dramatically in 2005. C. American farmers during World War I expanded production on previously unused land in response to higher crop prices. D. factories of gas-guzzling automobiles shut down when the price of gasoline triples in less than three months.