The Consumer Price Index was 115 one year and 120 the next year. The rate of inflation from one year to the next was approximately:
a. 2.2 percent
b. 4.3 percent
c. 2.9 percent
d. 3.4 percent
b. 4.3 percent
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A black market may occur when
A) the government imposes a price floor below the market clearing price. B) the government imposes a price ceiling below the market clearing price. C) the government imposes a price ceiling above the market clearing price. D) the government does not impose either a price ceiling or a price floor.
President Obama would generally advocate increased spending when the economy needs stimulus and increased taxation when the economy needs to be restricted
a. True b. False Indicate whether the statement is true or false
Which of the following correctly describes an aspect (or aspects) of the U.S. experience with affirmative action?
a. The Civil Rights Act of 1964 made it a felony for any private firm to employ a smaller percentage of minority workers than their overall percentage of the general population. b. All companies doing business with the federal government are required to set numerical hiring, promotion, and training goals to ensure that these firms did not discriminate in hiring based on race, sex, religion, or national origin. c. In 1989 the U.S. Supreme Court ordered Richmond, Virginia, to enact set-aside programs to reserve 30 percent of all construction work for minorities. d. The firms doing business with the federal government are allowed to discriminate in hiring based on race, sex, religion, or national origin.
The governmental expense of a farm price support tends to diminish as the price of the good falls.
Answer the following statement true (T) or false (F)