A time-series graph showing total production in Japan from 1960 to 2010 shows a positive trend. It is the case that total production
A) fell every year between 1960 and 2010.
B) rose every year between 1960 and 2010.
C) was lower in 2010 than in 1960.
D) was higher in 2010 than in 1960.
D
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According to the Application, one factor which was responsible for roughly one-fifth of hybrid vehicles purchased in 2007 was a federal subsidy of up to $3,400 per hybrid vehicle
The increase in sales due to this subsidy is an example of which element of the economic way of thinking? A) responding to incentives B) using assumptions to simplify C) thinking at the margin D) isolating variables
With regard to the question "What were the lives of those who died in the Civil War (1861–1865) worth?" Hughes and Cain (2011) conclude that
(a) there is no way to answer this question because people have infinite worth. (b) an estimate can be made by calculating the value of the loss of "human capital." (c) the worth was close to zero because of the surplus of population that existed at the time. (d) the worth of Northern lives lost was greater because the Northerners were fighting against the evils of slavery.
What is one reason drunk driving is held in such disrepute?
A) Drunk driving imposes high potential costs on non-drunk drivers. B) Drunk driving destroys cars and telephone poles, causing disruption in essential services. C) Only drunk drivers cause automobile fatalities. D) Drunk drivers impose high potential costs on other drunk drivers.
The unemployment rate will increase whenever there is a(n):
a. increase in the number of persons classified as unemployed. b. increase in the number of unemployed persons relative to the size of the labor force. c. increase in the size of the U.S. population and there is no change in the number of persons classified as employed. d. reduction in the size of the labor force. e. reduction in the size of the civilian labor force while the number of unemployed decreases.