Pollution problems
a. have existed for many centuries.
b. are attributable to modern industrialization.
c. can be blamed on the profit system.
d. have worsened in every respect in the past forty years.
a
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Business cycles are
A) irregular, with some having two recessions and no expansion. B) predictable, with a recession following a trough. C) unpredictable, but always have two phases and two turning points. D) unpredictable, and don't always have two phases and two turning points.
In an Israeli factory, each worker can produce 2/5 of a shirt in an hour or 1/10 of a pair of pants in an hour. If there are 500 workers in the factory, what is opportunity cost of producing one pair of pants?
a. 1 shirt b. 4 shirts c. 1/2 shirt d. 1/4 shirt e. 2 shirts
What makes production-planning a daunting task for central planners?
Which of the following will increase interest rates in the short run?
a. an decrease in reserve requirements b. open market sales by the Fed c. a decrease in real GDP d. an decrease in the price level