Based on geographical economic data, which person was most likely to have been swept up in the housing boom after the 2001 recession?
a. Doug, a farmer in rural Nebraska
b. Arturo, a computer programmer in suburban southern California
c. Annabel, a dentist in small town Kentucky
d. Shae, a painter in Boise, Idaho
b. Arturo, a computer programmer in suburban southern California
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A government subsidy for a good
A) is similar to a tax insofar as it decreases the production of the good being subsidized. B) increases production of the subsidized goods. C) punishes those who consume or produce the subsidized good. D) has no effect on the quantity of the good produced.
To meet their obligation under the Kyoto Protocol, member countries of the European Union (EU) in 2005 devised
a. a universal carbon tax b. a GHG trading program c. an EU-wide subsidy program for electric cars d. none of the above
Using your table, calculate the total amount of income and consumption and deduce the value of the national income multiplier
What will be an ideal response?
Consider the market for turkeys. In the United States, because of Thanksgiving in the month of November,
A) there is a downward movement along the demand curve for turkeys. B) there is an upward movement along the supply curve for turkeys. C) the supply curve of turkeys shifts leftward. D) the demand curve for turkeys shifts leftward. E) neither the demand curve nor the supply curve shift; instead there is a movement along both curves.