The most common form of economic decentralization involves
A. having very little government involvement in the economy.
B. markets, where people buy and sell goods and services.
C. government officials making economic decisions.
D. government ownership of the means of production.
B. markets, where people buy and sell goods and services.
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If real GDP grows by 3% in 2014, 3.2% in 2015, and 2.5% in 2016, what is the average annual growth rate of real GDP?
A) 2.6% B) 2.9% C) 3.1% D) 4.2%
Those who think that a popular investment is necessarily a good investment often find themselves earning low returns.
Answer the following statement true (T) or false (F)
The graph shown demonstrates a tax on buyers. Which of the following can be said about the effect of this tax?
A. The tax creates a shortage, and rationing must occur.
B. The tax creates a surplus, and the government must buy the excess.
C. The tax creates a shortage, and the government must regulate the market.
D. None of these is true
Raising an existing tariff on grapes from Chile will: a. increase U.S. imports of Chilean grapes
b. decrease U.S. consumption of domestically produced grapes. c. decrease total U.S. consumption of grapes. d. do all of the above.