There is no relationship between the price level and which component of GDP?
A. C
B. NX
C. G
D. I
Answer: C
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In a competitive market, when price is below the equilibrium level, the price will be driven upward due to
a. excess supply b. government intervention c. competition among suppliers d. excess demand e. technical inefficiency
We experienced the lowest inflation during the period from
A. 1945 to 1948. B. 1961 to 1964. C. 1973 to 1975. D. 1978 to 1981.
One of the challenges for modern scholars, policy makers, and citizens concerning international politics is discerning
a. the positive from the negative aspects of democracy. b. changes in patterns of global inequality. c. what represents a state and what represents an individual. d. what represents change and what represents continuity.
A union evaluates job offers based on the
A. Impact on the wage rate for all union members. B. Location of the work, either in the private or public sector. C. Individual interests of its members. D. Collective interests of its members.