When dealing with anything that is measured as a flow, one must
A. make sure the thing can be measured accurately.
B. use dollar values.
C. specify a time period.
D. specify one day in time.
Answer: C
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New York City, which has had a rent ceiling law for more than sixty years, has many abandoned apartment buildings throughout the city. Which of the following explains this?
A) Few workers with jobs in the city want to live in there because of pollution. B) No building permits for new apartment buildings have been issued for over fifty years. C) Once any building gets so old, it is abandoned. D) Landlords have no incentive to finance maintenance and remodeling of apartment buildings. E) Rent ceilings make the construction of new buildings so profitable that old buildings are simply abandoned.
What is the formula for the aggregate demand curve?
a. S + T + I + X – M b. C + T + G + X – M c. C + I + G + X – M d. S + I + G + X – M
Human capital deepening is typically the most important contributor to U.S. economic growth
a. True b. False Indicate whether the statement is true or false
Which of the following is NOT a true statement regarding free trade?
A. Free trade generally reduces the domestic prices of imports. B. Free trade may stimulate economic growth through export sales. C. Every individual in a country gains short-term benefits from free trade. D. Free trade promotes specialization and efficient production.