Open-hearth technology quickly replaced the Bessemer converter in the steel industry. This is an example of Schumpeter's creative destruction process
Indicate whether the statement is true or false
True
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To combat inflation, Congress and the president should
A) increase transfer payments. B) decrease taxes. C) decrease government spending. D) raise interest rates.
Figure 34-2
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In Figure 34-2, if the United States and Mexico are negotiating to trade wheat for petroleum,
A. the United States must receive more than 1 2/3 units of petroleum for a unit of wheat. B. Mexico must receive more than 1 2/3 units of petroleum for a unit of wheat. C. the limits of the agreement are between 1 unit of wheat for 2/3 unit of petroleum for the United States and 1 unit of wheat for 1 1/2 units of petroleum for Mexico. D. if the agreement is formalized at 1 unit of wheat for 1 unit of petroleum, then Mexico will benefit from the trade but the United States will not.
Which of the following is not a reason for the wage differential between females and males?
a. The choice of major in college by females tends to be different than the choice by males. b. The existence of employer prejudice leads to wage differential between males and females. c. The number of males is usually greater than the number of females in the labor force. d. Females bear the primary responsibility of childbearing. e. Women accept lower wages for flexible and shorter working hours.
If the marginal propensity to consume is 0.5 and disposable income decreases by $10,000 . by how much will consumption spending decrease?
a. $10,000 b. $500 c. $50 d. $5,000 e. $9,524