When equilibrium GDP is too large, we have
A. a recessionary gap.
B. a depression.
C. an inflationary gap.
D. escalating inflation.
C. an inflationary gap.
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Why does the U.S. government most likely distribute military spending to bases across the country?
a. To encourage support of defense spending b. To limit the power of defense contractors c. To meet the demands of special interest groups d. To ensure that defense budgets are adequate
It is possible to charge a price for a pure public good.
Answer the following statement true (T) or false (F)
Which of the following economies are most free?
A) Bolivia and Venezuela B) Bangladesh and Pakistan C) Algeria and the Democratic Republic of the Congo D) Hong Kong and Singapore
________ is the phenomenon that unusual events are likely to be followed by more nearly normal ones.
A. Loss aversion B. Anchoring and adjustment C. Regression to the mean D. The present aim standard of rationality