Over the post-war era, the gaps between countries' living standards
A) disappeared.
B) stayed the same.
C) increased.
D) decreased.
E) changed inconsistently.
E
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A city's decision to limit smoking in public areas is an example of
A. The invisible hand at work. B. The market mechanism at work. C. Government intervention. D. Market success.
Which of the following is an automatic stabilizer?
A. Unemployment compensation B. Property taxes C. Military expenditures D. Social Security benefits
Price Per UnitQuantity Demanded Per Unit of Time$2012$1817$1620$1424$1230$1036$840$644$448Refer to the above data. Over which price range is the price elasticity of demand inelastic?
A. $12-$10 B. $18-$16 C. $20-$18 D. $10-$8
The production possibility frontier represents
A. the ability of the GDP to grow relative to other countries' GDPs. B. the shifting of priorities to meet demand. C. the different possible combinations of output. D. demand tempered by inflation.