Which of the following is an example of a good with a highly elastic demand curve?
a. Pencils
b. Books
c. Bread
d. Sports vehicles
d. Sports vehicles
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The basic difference between a public bureau and a market firm is that the bureau
a. has an incentive to maximize profits b. has no incentive to minimize costs c. managers do not attempt to maximize their self interest d. managers are more likely to be concerned with the public interest than their own self interest e. faces a budget constraint placed up it by the voters
How many years did it take the stock market to recover to the value it had been in September 1929? A. 3 years
A. 3 years B. 10 years C. 25 years D. 54 years
The actual deficit is a poor measure of the government fiscal policy because it changes independently of intentional government policies
a. True b. False Indicate whether the statement is true or false
During the U.S. recession of 1980-1982, the unemployment rate reached a high of ________ percent.
A. 7.6 B. 8.8 C. 10.7 D. 22.4