The "expansion" of an economy occurs after:
A. firms produce more goods.
B. people spend more money.
C. a trough.
D. an inflationary period.
Answer: C
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TANF stands for _____
a. Temporary Aid to Needy Families b. Temporary Assistance to Needy Families c. Transitory Aid to Needy Families d. Transitory Assistance to Needy Families
What is a downside of trade protection?
a. Instead of protecting U.S. interests and giving domestic manufacturing an advantage over items manufactured elsewhere, it can have the unintended effect of driving the manufacturing completely out of the country. b. It can give U.S. interests and domestic manufacturing too much of an advantage over items manufactured elsewhere, having the unintended effect of driving the manufacturing completely out of the country. c. It can give U.S. interests and domestic manufacturing too much of an advantage over items manufactured elsewhere, having the unintended effect of bringing more manufacturing into the country than can be handled. d. Instead of protecting U.S. interests and giving domestic manufacturing an advantage over items manufactured elsewhere, it can have the unintended effect of bringing more manufacturing into the country than can be handled.
Table 10-1 Aggregate Quantity Aggregate Quantity ? Demanded Supplied Price (billions) (billions) Level $3500 $2900 65 3400 3000 75 3350 3150 90 3250 3250 110 3100 3400 130 In Table 10-1, what is the equilibrium level of real output and the equilibrium price?
A. $3,100 real output and a price of 75 B. $3,250 real output and a price of 110 C. $3,350 real output and a price of 90 D. $3,400 real output and a price of 75
Normative economic analysis tends to
A) generate testable hypotheses. B) include the way someone thinks things should be or ought to be. C) involve descriptive statements. D) lead to empirical testing of data.