In golf and tennis, there is little concern over player strikes because
A. they are amateurs and do not wish to be paid.
B. there is a direct relationship between winning and earning.
C. the golf and tennis owners have always been fair.
D. even the average players make more than the stars in the other sports.
Answer: B
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Refer to Table 21-2. Using the table above, what is the approximate growth rate of real GDP from 2015 to 2016?
A) -2% B) -1% C) 1% D) 2%
Society might argue that there are cases in which it is appropriate to resist price increases in situations where scarcity is serious. Included would be the case of
a. unrestrained monopoly that would otherwise succeed in gouging the public. b. taxes imposed on products capriciously and inappropriately. c. rising prices falling so heavily on the poor that rationing becomes preferable. d. All of the above are correct.
The price of a good will tend to rise when
What will be an ideal response?
How might fiscal policy be used to correct a recessionary gap?
A. Taxes would be cut to stimulate aggregate demand. B. The exchange rate would be adjusted to encourage imports. C. The interest rate would be adjusted to encourage saving. D. The exchange rate would be adjusted to discourage imports.