The longest expansion of the United States economy since 1925 began in:
A. 1961.
B. 1991.
C. 1982.
D. 1945.
Answer: B
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Rank the following goods from most elastic to least elastic: The Economic Way of Thinking (11th ed.), economics textbooks, textbooks
A) The Economic Way of Thinking (11th ed.), economics textbooks, textbooks B) The Economic Way of Thinking (11th ed.), textbooks, economics textbooks C) Economics textbooks, The Economic Way of Thinking (11th ed.), textbooks D) Textbooks, economics textbooks, The Economic Way of Thinking (11th ed.) E) None of the above.
For allocative efficiency to hold
A) average total cost is minimized in production. B) average variable cost is minimized in production. C) price must equal the marginal cost of the last unit produced. D) price must equal marginal revenue of the last unit sold.
What effect do non-tradable goods have on PPP?
What will be an ideal response?
A corrective tax is also known as:
a. a command-and-control regulation. b. a Coase tax. c. a Pigovian tax. d. a Smithian tax.