Inflation was the nation's number-one economic worry during
A. the 1920s.
B. the late 1950s.
C. the early 1960s.
D. the 1970s.
D. the 1970s.
You might also like to view...
In order to reduce the ________ problem in loan markets, bankers collect information from prospective borrowers to screen out the bad credit risks from the good ones
A) moral hazard B) adverse selection C) moral suasion D) adverse lending
In general, the substitution effect of an increase in the price of a normal good:
A. will cause the individual to buy more of that good because they have relatively more income. B. will cause the individual to buy less of that good because they have relatively less income. C. will cause the individual to buy more of that good and less of others because it is relatively less expensive. D. will cause the individual to buy less of that good and more of others because it is relatively more expensive.
If a country runs a deficit in its current account, it is because
a. exports exceed imports b. imports exceed exports c. net unilateral transfers are negative d. foreign currency received from exports and transfers exceeds the foreign exchange needed to pay for imports and to make unilateral transfers e. foreign currency received from exports and transfers is less than the foreign exchange needed to pay for imports and to make unilateral transfers
The cheap foreign labor argument is a poor reason for restricting international trade because
a. the labor productivity of workers who are paid less is lower than the labor productivity of those who are paid more b. all firms and workers gain when there are no restrictions on international trade c. infant industries such as steel and automobiles need to be protected d. specialization and free trade usually raise the prices of all traded goods, so that the workers are paid more e. long run labor costs tend to be the same worldwide because of workers' mobility