Recall the Application about the Native American Tribes in Michigan that had a monopoly in casino gambling to answer the following question(s).Recall the Application. How many Native American Tribes made a deal with the state of Michigan in 1993 and were granted a monopoly in casino gambling?
A. 2
B. 3
C. 7
D. 10
Answer: C
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There is no role for government in a free enterprise economy such as the United States.
Answer the following statement true (T) or false (F)
Which of the following is NOT a real world factual conflict with the neoclassical growth model?
A) Income per capita varies greatly across countries. B) Poor countries do not have a higher rate of return on capital. C) Immigrant labor from poor countries experiences very small increases in income when it moves to rich countries. D) Poor countries' income levels have not converged to the income levels of rich countries.
If companies decrease investment spending because of lower expected returns on projects, forecasters should anticipate (everything else the same) that
A) GDP will rise. B) the money supply will fall. C) interest rates will fall. D) saving will increase.
Which of the following general principles does the following graph demonstrate?
a. With a few exceptions, the U.S. unemployment rate remains relatively constant over
the course of any given decade.
b. The U.S. unemployment rate remains around 5 percent except during periods of
economic contraction.
c. The U.S. unemployment rate almost always rises during periods of economic
contraction.
d. Although there have been some fluctuations, the U.S. unemployment rate has
generally risen between 1900 and 2017.