Which of the following rises during recessions?
a. layoffs and consumer spending
b. layoffs but not consumer spending
c. consumer spending but not layoffs
d. neither layoffs nor consumer spending
b
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Inflation refers to a one-time price increase in a particular market
a. True b. False Indicate whether the statement is true or false
The natural right to life, liberty and pursuit of happiness is an idea of:
a. Hayek b. Schumpeter c. Marx d. Lange e. Locke
Economics is best defined as the study of:
A. whether we will have enough resources in the future. B. choice in the face of limited resources. C. the financial concerns of businesses and individuals. D. the role of government in limiting the choices people make.
In the United States, the wage rates for high school graduates are growing faster than the wage rates for college graduates.
Answer the following statement true (T) or false (F)