Some argue that a nation should not depend too heavily on other countries for supplies of certain key products, special materials, or technologies that might have ______________ applications.
a. general
b. scientific
c. national security
d. international
c. national security
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If prices rise on average in the U.S. economy, the purchasing power of a dollar declines
Indicate whether the statement is true or false
When the government implements programs such as progressive income tax rates, which of the following is likely to occur?
a. equality is increased and efficiency is increased. b. equality is increased and efficiency is decreased. c. equality is decreased and efficiency is increased. d. equality is decreased and efficiency is decreased.
Which of the following is held constant when moving along a short-run Phillip's curve?
A) The inflation rate B) The unemployment rate C) The expected inflation rate D) The growth rate of the quantity of money
When a negative externality is present in a market, when a quota is imposed, it is:
A. efficient, because the market consumes the efficient level. B. efficient, because the net benefit of everyone at the amount set by the quota is equal. C. not efficient, because individuals' net benefits from the amount set by the quota are different. D. not efficient, because the marginal cost outweighs the marginal benefit for too many consumers at the amount set by the quota.