The fact that many people drive faster than the posted speed limit suggests that
A) not all price floors are enforceable.
B) not all price and quantity regulations are enforceable.
C) individual drivers act irrationally.
D) government regulation is utterly useless.
B
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The rise in agricultural discontent in the late 19th century can be best explained by
a. the rise of railroad cartels in the Midwest. b. the rise of global market forces not easily observed by the farmers. c. a decline in the value of agricultural exports from 1870 to 1900. d. predatory lending by banks, resulting in increased farm repossessions.
The GDP in the United States is reported quarterly in terms of
a. weekly rates. b. monthly rates. c. annual rates. d. biannual rates.
Sellers are more willing to supply a good or service for which the profit is low than to supply a good or service for which the profit is high
a. True b. False Indicate whether the statement is true or false
Compared to the unemployed during the Great Depression, persons unemployed in today’s economy are
A. worse off due to higher price levels. B. worse off due to higher rates of unemployment in the 1990s. C. better off due to unemployment insurance. D. better off due to lower price levels.