The Environmental Protection Agency was created in
A. the 1930s.
B. the 1990s.
C. the 1980s.
D. the 1960s.
Answer: D
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If we wanted to describe unemployment in terms of supply and demand, we could say:
A. there is a surplus of labor. B. at the prevailing wage, the demand is greater than the supply of labor. C. the quantity of those demanding labor is greater than those supplying labor. D. All of these are true.
Fixing the financial system after the Great Recession meant:
a. Finding a way to make the banking and general financial systems solvent, and solving the nation's illiquidity problems. b. Finding private (domestic and foreign) private buyers for U.S. subprime loans. c.Changing banking rules so there was more financial competition. d. Opening long-term financing sources, which would allow banks, companies, and the U.S. government to fund their long-term needs, such as new branches, plants, and infrastructure (e.g., bridges and dams) needs.
The delay between the time a policy is enacted and the time the policy has its effect on the economy is called
A) the impact lag. B) the implementation lag. C) the government lag. D) the recognition lag.
A. money is not an effective tool for exchange in a market system. B. there is an active role for government, even in a market system. C. individuals and firms should strive to be self-sufficient rather than specialize. D. command systems are
superior to market systems in the allocation of resources. A. Private ownership of property resources. B. Competition among buyers and sellers pursuing monetary returns. C. The widespread use of money. D. Freedom of enterprise and choice.