Economists believe that political instability can facilitate economic development in an LDC by making its citizens more open to change and new technology
a. True
b. False
Indicate whether the statement is true or false
False
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As the recession persisted into 2009, the unemployment rate in the United States rose to ________, the highest rate since the recession of 2001-2002 and the second highest since the Great Depression
A) 5.5 percent B) 9.3 percent C) 17.6 percent D) 25.1 percent
Which of the following is NOT an example of an externality?
A) A bread company emits a wonderful aroma in the air that makes people smile. B) The neighbor's wind chimes interfere with your sleep. C) A firm fires 500 people. D) Cancer-causing chemicals are dumped into the drinking water supply of a city.
When a good is taxed, the burden of the tax
a. falls more heavily on the side of the market that is more elastic. b. falls more heavily on the side of the market that is more inelastic. c. falls more heavily on the side of the market that is closer to unit elastic. d. is distributed independently of relative elasticities of supply and demand.
A sudden increase in the price of oil causes a ________ inflation and ________ output.
A. cost-push; higher B. demand-pull; lower C. cost-push; lower D. demand-pull; higher