The lowest the poverty rate has been during the last 50 years was in
A. 1960.
B. 1967.
C. 1973.
D. 1979.
C. 1973.
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Because producers do not bear the external cost of pollution,
A) private production exceeds the economically efficient level. B) the economically efficient level of production is achieved. C) private production is below the economically efficient level. D) the market price for the product being produced by the pollution-generating company is too high.
Which case represents the largest increase in the real national debt?
a. The price level increases by 500 percent and nominal debt increases by 500 percent. b. The price level increases by 200 percent and nominal debt increases by 600 percent. c. The price level decreases by 50 percent and nominal debt increases by 300 percent. d. The price level increases by 400 percent and nominal debt increases by 200 percent. e. The price level decreases by 90 percent and nominal debt increases by 200 percent.
To discourage future breakdowns in cooperation in a repetitive game, ______. a. oligopolists should place penalties in the game
b. oligopolists should allow a flexible boundary on output. c. oligopolists should allow flexibility in prices. d. oligopolists should decrease the number of firms in a cartel.
Since 1929, total government taxes as a percentage of GDP:
a. climbed from 10 percent to about 30 percent. b. remained close to 30 percent. c. climbed from 30 percent to about 50 percent. d. climbed from 15 percent to about 50 percent.