The bulk of the exports from developing countries comprises of:
a. manufactured goods.
b. finished goods.
c. raw materials.
d. services.
c
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Cigarette advertising on our nation's radio and television stations has been prohibited for more than the past three decades by federal law
What is curious about this law is that it came into being not just because of the lobbying efforts of American Medical Association but also by the tobacco industry. Use economic logic to explain this apparent paradox.
When there is an excess quantity supplied
A) the market is in equilibrium. B) quantity demanded is greater than quantity supplied. C) quantity demanded is less than quantity supplied. D) prices will remain stable.
The institution ultimately responsible for managing the nation's money supply and coordinating the banking system to ensure a sound economy is called a:
A. central bank. B. national bank. C. public banking system. D. peoples' bank.
Which of the following best describes the population and production/consumption of North America and the European Union?
a. North American and the European Union have about 70% of the world’s population and their combined economic statistics show that they produce and consume about 16% of the world’s GDP. b. North American and the European Union have about 80% of the world’s population and their combined economic statistics show that they produce and consume about 70% of the world’s GDP. c. North American and the European Union have about 16% of the world’s population and their combined economic statistics show that they produce and consume about 16% of the world’s GDP. d. North American and the European Union have about 9% of the world’s population and their combined economic statistics show that they produce and consume about 70% of the world’s GDP.