The international oil price hike by OPEC was an adverse supply shock faced by the U.S. in the 1970s
a. True
b. False
Indicate whether the statement is true or false
True
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In a progressive tax system, ________
A) the average tax rate equals the marginal tax rate B) the marginal tax rate exceeds the average tax rate C) the average tax rate exceeds the marginal tax rate D) the average tax rate is equal for all taxpayers
Refer to Scenario 10.6. If red rubber balls can be produced at any of the three plants, what is the marginal cost of 5th red rubber ball?
A) 4 B) 5 C) 8 D) 20 E) none of the above
Which of the following about minimum wage is true?
a. Most minimum wage workers are employed more than 40 hours per week. b. Economic analysis indicates an increase in the minimum wage would increase the training opportunities available to inexperienced workers. c. Most minimum wage workers are heads of families with incomes below the poverty level. d. Most minimum wage workers are employed part-time, and they are often members of a household with an income well above the poverty level.
(Advanced analysis) Indy has $2,000 invested in a financial asset earning an annually compounded interest rate of 6 percent. Approximately how many years will it take before Indy's investment is worth $5,000?
A. 25. B. 10.5. C. 12.8. D. 15.7.