Which of the following helped reduce sulfur dioxide emissions, a leading cause of acid rain? (i) corrective taxes (ii) tradable pollution permits (iii) amendments to the Clean Air Act
a. (i) only
b. both (i) and (ii)
c. (iii) only
d. both (ii) and (iii)
d
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In 2012, real GDP in the United States was below potential GDP. This fact definitely means that
A) the unemployment rate was near 10 percent. B) the unemployment rate was above the natural unemployment rate. C) the economy was in an expansion. D) cyclical unemployment had been decreasing. E) frictional unemployment was negative.
The relationship between real consumption spending and real disposable income
A) is direct. B) is inverse. C) plots a vertical line. D) plots a horizontal line.
The Federal Reserve System is owned by the U.S. Department of the Treasury
Indicate whether the statement is true or false
The demand schedules for such products as eggs, bread, and electricity tend to be:
A. perfectly price elastic. B. of unit price elasticity. C. relatively price inelastic. D. relatively price elastic.