Pollution problems
A. have existed for many centuries.
B. are attributable to modern industrialization.
C. can be blamed on the profit system.
D. have worsened in every respect in the past 40 years.
Answer: A
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An increase in the discount rate will
A) have an unclear effect on the money supply. B) not affect the money supply. C) decrease the money supply. D) increase the money supply.
If the current account has a negative balance of $100 and the capital and financial account has a positive balance of $80, there will be ________ in official reserves of ________
A) a decrease; $20 B) an increase; $20 C) an increase; $180 D) a decrease; $180
Stagflation is the combination of
A) inflation and increasing real GDP. B) deflation and recession. C) inflation and recession. D) deflation with increasing real GDP.
If the demand curve facing the Acme Awl Company is tangent to its average total cost curve, all of the following statements are true except one. Which is the exception?
a. Economic profit is zero. b. A normal profit exists. c. Marginal cost must exceed marginal revenue. d. Acme has excess capacity. e. Firms have no incentive to enter or leave this industry.