According to the Mercantilists, governments should
A. not spend much on national defense.
B. allow for free trade unencumbered by government regulations and restrictions.
C. subsidize and encourage exports.
D. subsidize and encourage imports.
Answer: C
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When Congress established the Federal Reserve in 1913, what was its main responsibility? When did Congress broaden the Fed's responsibilities?
What will be an ideal response?
The main difference between the price-quantity graph of a perfectly competitive firm and a monopoly is
A) that the competitive firm's demand curve is horizontal, while that of the monopoly is downward sloping. B) that a monopoly always earns an economic profit while a competitive company always earns only normal profit. C) that a monopoly maximizes its profit when marginal revenue is greater than marginal cost. D) that a monopoly does not incur increasing marginal cost.
Which of the following is a positive statement? a. The average high temperature in Miami, Florida in February is lower than the average high temperature in Chicago, Illinois. b. An increase in cigarette smoking will lead to a decrease in the likelihood of getting lung cancer
c. 30 minutes of exercise three or more times per week will decrease the occurrence of heart disease. d. all of the above
Those who believe that overall economic growth is more important than the distribution of income would say that:
A. if the society is not getting richer, then things can never become more equal. B. it is fundamentally unjust for some people to have so much when others have so little. C. if everyone is getting richer, the relative speed of these gains isn't as important. D. All of these are true.