During the past 100 years, the United States has transformed into primarily
A. A manufacturing economy.
B. A service economy.
C. A closed economy with little foreign trade.
D. An agricultural economy.
Answer: B
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In terms of the production possibilities diagram, the principle of increasing cost simply asserts that the frontier is
A. downward sloping. B. upward sloping. C. bowed inward. D. bowed outward. E. undefined, because no market will exist in this case.
Child abuse investigators are responsible for:
a) assessing the safety of children who are at risk of maltreatment. b) deciding what types and levels of services may be immediately needed to keep children safe. c) determining under what conditions children must be placed in out-of-home care for their protection. d) all of the above
The aggregate demand curve shows the combinations of output and the price level that put the economy on
A) the FE line and the IS curve. B) the FE line, the IS curve, and the LM curve. C) the IS curve. D) the IS curve and the LM curve.
Which of the following will be most likely to contribute to the growth of a less-developed country?
a. price controls that keep the cost of agricultural products low b. rapid population growth c. exchange rate controls and export restrictions d. secure property rights and low marginal tax rates