A good example of central planning at work in the U.S. is:
A. McDonald's fries being the same everywhere.
B. New York City's rent control program.
C. car manufacturers establishing suggested retail prices.
D. unions working with businesses to establish wages.
Answer: B
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The central bank of the United States is called:
A. Bank of the United States. B. AmeriBank. C. Bank of America. D. the Federal Reserve System.
All of the following cause a shift in the demand curve EXCEPT a change in the
A) price of related goods. B) price of the good or service. C) consumer income. D) number of consumers.
Some argue the best response to monopolies is no response at all because:
A. the creation of regulation may be too difficult. B. political mishandling may make the situation even worse. C. the regulation of monopolies may not be able to be managed effectively. D. All of these statements are true.
What is the underground economy? How does it affect GDP calculations? Provide three examples of underground economy transactions