Which of the following is a positive economic statement?
A. Government must maintain the current level of defense spending to keep the nation safe
B. The minimum wage should be increased to give people a decent wage
C. Americans should buy American products in order to boost the national economy
D. Stock prices rose to a new record last month for the fourth month in a row
Answer: D
You might also like to view...
If movement along a graph causes the value on the vertical axis to rise by 5 units and the value on the horizontal axis to fall by 10 units, the slope of the function is
A. 5 B. ?.5. C. ?2. D. ?72.
The Fed can increase the federal funds rate by
A) buying Treasury bills, which increases bank reserves. B) selling Treasury bills, which decreases bank reserves. C) buying Treasury bills, which decreases bank reserves. D) selling Treasury bills, which increases bank reserves.
If a 5 percent decrease in the price of a good produces a 5 percent increase in the quantity demanded, the price elasticity of demand is:
a. perfectly elastic. b. perfectly inelastic. c. elastic. d. inelastic. e. unitary elastic.
The United States has numerous antitrust laws on the books and numerous legal precedents on acceptable corporate behavior. Still, the true commitment to enforcement is measured by the
a. number of monopolies we sue b. number of monopolies we break up c. partiality of the federal judges d. willingness of industry to behave e. budget of the enforcement agencies