The economy of the United States can best be described as pure capitalism.
Answer the following statement true (T) or false (F)
False
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? PriceQuantity Demanded Quantity Supplied $101,000 5,500 92,0005,00083,0004,50074,0004,00065,0003,50056,0003,00047,0002,50038,0002,00029,0001,500110,0001,000? Refer to Table 4-1. What is the equilibrium price in the example above?
A. $9 B. $8 C. $7 D. $6 E. $5
Refer to Table 9-1. The unemployment rate for this simple economy equals
A) (100/1,100 ) × 100. B) (100/20,000 ) × 100. C) (100/15,000 ) × 100. D) (100/1,000 ) × 100.
The globalized AS/AD model relates:
A. directly to tradable and indirectly to non-tradable goods. B. directly to both tradable and non-tradable goods. C. to tradable goods only. D. to tradable services only.
All of the following are consequences of a government's having to deal with a "debt crisis", except:
A. Very restricted ability to borrow money B. Being forced to drastically raise taxes C. Being forced to make drastic cuts in spending D. Being forced to make huge increases in government spending