The fact that roughly 70 percent of Americans are overweight speaks to the argument of behavioral economists that people lack complete ______.
a. appreciation for the present
b. belief in traditional economics
c. control over themselves
d. knowledge of the market
c. control over themselves
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Which of the following is an example of a topic studied by microeconomists?
A) Price determination by a firm B) Interest rate determination C) Measures to combat inflation D) National income calculations
On average, in the recessions since 1950, it has taken ________ for real GDP to return to its cyclical peak
A) about 6 months B) about 1 year C) about 18 months D) almost 2.5 years
The federal income tax is progressive because the tax rates increase at higher income levels
a. True b. False Indicate whether the statement is true or false
Refer to the graph shown. From 1938 to 1943 the Federal deficit rose from $1.0 billion to $53.8 billion due to increased defense spending. The effect of this on the AD curve can be shown by a movement from:
A. A to B. B. A to C. C. A to D. D. B to A.