Regulations to prevent Usury are meant to
A. limit consumption of depletable resources.
B. control rents from increasing.
C. cap the cost of borrowing.
D. provide a living wage.
Answer: C
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Last year, in a nation far to the South, real GDP was $90 million and 900,000 workers were employed. This year real GDP is $100 million, 950,000 workers are employed, and the number of hours each worker works per year did not change
Hence, labor productivity A) has decreased. B) has increased. C) has remained constant. D) cannot be compared between the two years because both real GDP and the number of workers increased. E) might have changed, but more information is needed to determine if it changed.
Aggregate output is ________ related to autonomous consumer expenditure, and is ________ related to planned investment spending
A) negatively; negatively B) negatively; positively C) positively; negatively D) positively; positively
A good economic theory: a. rests on realistic assumptions
b. explains economic behavior and predicts well. c. can best be expressed mathematically. d. always provides a highly detailed analysis of an economic sector.
Which of the following explains the rise in income inequality in the United States from 1970 to 2011?
a. An increase in minimum wages. b. An increase in the demand for skilled labor. c. An increase in the demand for unskilled labor. d. Reduced international trade with low-wage countries.