Recessions
A. almost never last more than two consecutive quarters.
B. do not occur in developed countries, including the United States.
C. cause the unemployment rate to increase.
D. are always followed by long periods of high rates of real economic growth.
Answer: C
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What approach to fairness argues in favor of government policies that redistribute income so that there is more equality of income?
What will be an ideal response?
The exchange of secondhand securities
a. takes place in an oligopolistic market b. does not provide funds to the firm that issued those securities c. includes the initial sale when securities are issued by a firm d. involves very few institutional investors e. lowers the liquidity of the securities
What curve shows the quantity of goods and services that households, firms, the government, and customers abroad want to buy at each price level?
Commitment devices can be:
A. a way for people to voluntarily restrict their choices in order to make it easier to stick to plans. B. a way to use choice architecture to help you avoid temptation. C. formal policies or products. D. All of these statements are true.