When looking at the economic impact of the terrorist attacks, the initial claim by Osama Bin Laden that the cost to the U.S. would be $1 trillion
A. was viewed at the time to be about right.
B. was viewed at the time to be too high, but in retrospect, is actually too low.
C. was viewed at the time to be too low.
D. was viewed at the time to be too high, but in retrospect, is actually about right.
Answer: B
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"Real money balances" refers to
A) the currency part of the total money supply. B) the money supply divided by the price level. C) the money supply times one minus the interest rate. D) the non-interest-earning part of the money supply.
Individuals with homeowner's insurance tend to be more forgetful about locking their possessions safely before heading out. This is an example of
a. Adverse selection b. Moral hazard c. Screening d. None of the above
Incentive-based regulatory approaches:
a. are viewed favorably by most economists as a way to control pollution. b. provide less flexibility than the command-and-control approach. c. tend to hurt wealthier people more than poor people. d. require that the government specify certain types of pollution control technology that firms must adopt.
The expenditure schedule will shift upward when
A. investment falls. B. the price level rises. C. net exports decrease. D. autonomous consumption increases.