An event driving gasoline prices higher from 2006 to 2008 was
A. conflict in Nigeria.
B. growing energy use in China and India.
C. Hurricanes Katrina and Rita.
D. all of the answers are correct.
Answer: D
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Which of the following best describes a deliberate government decision to lower the exchange rate, E?
A) appreciation B) depreciation C) revaluation D) devaluation E) accumulation
Product-specific services are valuable to complex ________ goods that consumers purchase ________.
A) experience; infrequently B) inspection; frequently C) experience; frequently D) inspection; infrequently
The use of quarterly data to develop the forecasting model Yt = a +bYt?1 is an example of which forecasting technique?
a. Barometric forecasting b. Time-series forecasting c. Survey and opinion d. Econometric methods based on an understanding of the underlying economic variables involved e. Input-output analysis
The philosopher John Rawls argued that
a. people would choose income equality if they didn't know beforehand the "agreed upon rules" that determine people's economic position b. people would choose income inequality to allow the maximum use of their individual talents c. it would be impossible to determine beforehand how rich and poor people would choose between income equality and income inequality d. people, uninhibited by social convention, would choose income inequality because they are, by nature, not inclined toward egalitarian values e. government has a role to ensure income equality to prevent social unrest