Which legislation was NOT signed into law by Richard Nixon?
A. The Environmental Protection Agency Act (EPA)
B. The Social Security Administration Act (SSA)
C. The Occupational Health and Safety Act (OSHA)
D. The Equal Employment Opportunity Commission Act (EEOC)
Answer: B
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When net capital flows are positive,
A) net foreign investment is negative. B) capital inflows are greater than capital outflows. C) capital outflows are greater than capital inflows. D) A and B are both correct.
Suppose an American worker can make 50 pairs of gloves or grow 300 radishes per day. On the other hand, a Bangladeshi worker can produce 100 pairs of gloves or grow 200 radishes per day. Which of the following statements is true? Bangladesh should:
A. specialize in glove production since it possesses the comparative advantage in glove production. B. despecialize in radish production since it possesses the comparative advantage in radish production. C. produceboth gloves and radishes since it has the absolute advantage in glove production. D. only produce radishes since it has the absolute advantage in radish production.
Suppose the government's goal is to increase consumption in the year 2002 . Its two options are (1) an announced one-time $1 billion dollar tax cut for 2002 or (2) an announced permanent tax cut (2000 and thereafter) of $1 billion dollars starting in 2002. Which would more effectively achieve the government's goal?
a. the one-time tax rebate, if Friedman's permanent income hypothesis is correct b. the permanent tax cut, if Friedman's permanent income hypothesis is correct c. either option would do because each will increase consumption by the same amount d. the one-time tax rebate, if Duesenberry's relative income hypothesis is correct e. the permanent tax cut, if Duesenberry's relative income hypothesis is correct
Explain the practice of tying and discuss why it is controversial