The first systematic attempt to explain the determinants of the price level and national levels of income, employment, consumption and real Gross Domestic Product (GDP) was made by ________ economists.
A. Keynesian
B. classical
C. monetarist
D. supply-side
Answer: B
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Refer to Table 22-1. Based on the table above, which country has a higher standard of living and why?
A) Ireland has a higher standard of living because growth in GDP is greater in Ireland than in Sweden. B) Sweden has a higher standard of living because their GDP is higher. C) Ireland has a higher standard of living because their GDP per capita is higher. D) Sweden has a higher standard of living because their GDP per capita is higher.
Which of the following is an example of using the scientific method with a natural experiment?
a. measuring how long it takes a marble to fall from a ten story building b. comparing plant growth with and without a soil additive c. tracking the price of oil when a war in the Middle East interrupts the flow of crude oil d. observing the reaction when two chemicals are mixed together
Which of the following could be called an unfunded mandate imposed by the federal government to be carried out by state and local governments, without enough funds to cover the cost of the program?
A. the No Child Left Behind Act of 2001. B. the requirement that states and localities hire new police officers by the Department of Homeland Security. C. the requirement that states carry out election reform, as a result of voting irregularities in the 2000 election. D. all the choices.
Craft unions:
A. attempt to organize workers at all skill levels in a firm or industry. B. have been declared illegal by federal legislation. C. only organize workers who have a particular skill. D. attempt to increase the supply of their particular type of labor.