Which statement is false?
A. President Eisenhower presided over three recessions.
B. At the close of the 20th century the unemployment rate was below 5 percent.
C. The United States' longest economic expansion was for six years during the Reagan Administration.
D. None of the choices are false.
C. The United States' longest economic expansion was for six years during the Reagan Administration.
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A business enterprise in which employees must belong to the union before they can be hired is
A) a closed shop. B) a union shop. C) a jurisdictional dispute. D) an industrial union.
The manager of the sales department (a profit center) at Harvey's HVAC, decides to outsource any sales training that the division needs since in house training is expensive, even though the outsourced training does not cover the company's repair and warranty information from the service department. Does the Sales department have enough incentive to make a good decision?
a. Yes, because them making the right decision would increase the division profit b. No, because them making the right decision does not affect the division profit c. No, because them making the right decision decreases the division profit d. Yes, because them making the right decision increases the company's total profits
Which of the following workers is most likely to lose his/her job during a recession?
A. A barber B. A farmer C. A baker D. A construction worker
Direct shipment of wine to individuals is illegal. Some wineries want the law revoked. They argue that the ability to ship directly to consumers helps small wineries and that shipping bans unfairly protect home-state wineries, raising prices to consumers. Others argue that the bans allow states to collect tax revenues and to keep wine from being sold to minors. What would most economists say about whether this ban should stay or be eliminated?
A. Because there would be people harmed, lifting the ban would not be Pareto optimal. Therefore, eliminating the ban is a bad policy. B. There are benefits to lifting the ban but also costs, and unless we know these costs and benefits, we cannot decide. C. Lifting the ban would make taxes less equitable. Therefore, the ban should remain. D. Economists would argue that competition is good and the ban prevents competition. Therefore, the ban should be lifted.