When a recession begins and ends is determined by a committee within the
a. Office of Management and Budget
b. Bureau of Economic Analysis
c. Council of Economic Advisors
d. National Bureau of Economic Research
e. Bureau of Labor Statistics
D
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Haiti was once heavily forested. Today, 80 percent of Haiti's forests have been cut down, primarily to be burned to create charcoal. The reduction in the number of trees has led to devastating floods when it rains heavily. This is an example of
A) the tragedy of the commons. B) tragic externalities. C) human greed. D) the consequences of too many people having private property rights.
Refer to Figure 9-4. Suppose the government allows imports of leather footwear into the United States. What will be the domestic quantity supplied?
A) Q0 B) Q1 C) Q2 D) Q2 - Q0
Markets tend toward equilibrium and, as a result, will tend to eliminate shortages and surpluses. Why?
The highest fifth of all families receive approximately ________ of the distribution of annual money income among families
a. 5 percent b. 10 percent c. 25 percent d. 50 percent