The persistent problem of inflation, beginning in the late 1960s, had its causes in all of the following except
(a) The full-scale entrance of the United States into the Vietnam War in 1965
(b) "Oil shocks" in the 1970s
(c) Rising production costs in almost every sector in the economy due to rising energy costs
(d) Rising corporate taxes which raised the cost of doing business
(d)
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The perpetual state of insufficiency of resources to satisfy people's unlimited wants is:
a. apparent only in poor countries. b. completely unrealistic. c. present in modern economies, but not in the past. d. the definition of scarcity.
In mid-2009, the unemployment rate stood at
a. 25 percent b. 5 percent c. 6 percent d. 9.5 percent e. 20 percent
A graph that illustrates the maximum amount of one good that can be produced for every possible level of production of the other good is called a:
A. production possibilities curve. B. production function. C. consumption possibilities curve. D. supply curve.
Which of the following statements about stock market brokers and dealers is TRUE?
A) Brokers earn commissions from trading stocks but dealers try to profit from trading stocks. B) Brokers try to profit from trading stocks but dealers earn commissions from trading stocks. C) Both brokers and dealers earn commissions from trading stocks. D) Both brokers and dealers try to profit from trading stocks.