Gasoline prices increased substantially from 1998 to 2008, in large part, because of
A) Growth in demand from economic growth in places such as China and India
B) Increased power and decreased production (supply) by OPEC
C) Increased control over world gasoline supply by major U.S. oil companies
D) Reductions in supply from the North Sea
Ans: A) Growth in demand from economic growth in places such as China and India
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The equal wealth and income distribution in the U.S. during its antebellum period can be clearly linked to its system of private property rights over land and minerals
Indicate whether the statement is true or false
Household production still exists because it often requires fewer specialized resources than market production does
a. True b. False
Shanda is a policymaker for the government. If her goal is to increase the equilibrium quantity of loanable funds while lowering real interest rates, what type of program should she pursue?
a. help researchers create a profitable technological breakthrough b. enact an investment tax credit c. eliminate an investment tax credit d. enact a saving incentive
Which of the following is true?
A. Keynesians advocate decreasing the money supply during economic recessions but increasing the money supply during economic expansions. B. Monetarists advocate increasing the money supply by a constant rate year after year. C. Keynesians argue that the crowding-out effect is rather large. D. Monetarists argue that the crowding-out effect is rather insignificant.