Deregulation
a. Began in Europe in the 1960s
b. Began in the United States in the late 1970s and early 1980s
c. Did not spread to Europe
d. Has been a failure
e. Both b and c are correct
B
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In Figure 3-3 above, when income is 1,500, unplanned inventory investment is
A) 200. B) 300. C) 500. D) -200. E) -500.
When a variable can take on different values
a. it is a random variable b. it is a dependent variable c. it is an dummy variable d. it is an endogenous variable
In the simple Keynesian model, there are three simplifying assumptions. Among these assumptions is:
A) the price level is flexible B) no foreign sector C) the price level is constant until the economy reaches its full-employment level D) the money supply always rises E) b and c
Which statement is true?
A. Welfare payments are set by the federal government and are the same for all states. B. Only the industrial states of the northeast, Midwest, and the far west have welfare programs. C. Most people receiving welfare benefits are black. D. Each state sets its own welfare payments.