Recall the Application about the factors involved in causing recessions, and the causes of recessions in the United States from 1893 to 1990 to answer the following question(s).According to this Application, the recessions in 1973 and 1979 were caused by:
A. supply shocks.
B. deflation.
C. foreign monetary developments.
D. arbitrage losses in the foreign exchange market.
Answer: A
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Two businesses coming together to form a single company is known as? a(n) __________.
A. hostile takeover B. acquisition C. leveraged buyout D. joint venture E. merger
Per capita GDP is
A. The sum of consumer goods, investment goods, government services, and net exports. B. The dollar value of GDP divided by total population. C. The value of the factors of production used to produce output in a country. D. A dollar measure of the economic growth rate of a country.
The Coase theorem will ________ if the number of people involved is small.
A. only apply B. always apply C. rarely apply D. never apply
Nobel laureate economist Ronald Coase suggests that pollution problems could be solved if
A. people used a community spirit rather than a self-interested motive when making decisions. B. community property was made the norm. C. community property was owned by self-interested parties. D. people simply thought about the costs of their actions.