Which of the following is a private owner prohibited from doing?
What will be an ideal response?
Using the property in a manner that invades or infringes on the property of another.
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"Automatic stabilizers" played a part in reducing the length and severity of the recession of 1953-54 . Which of the following is an example of an "automatic stabilizer"?
a. Deficit spending by the federal government b. Spending on education by local and state governments c. Programs like unemployment insurance and Social Security d. Actions by the Federal Reserve aimed at reducing interest rates
National income (NI) is calculated by adjusting GDP for: a. depreciation
b. investment and net exports. c. Social Security insurance contributions and transfer payments. d. corporate and personal income taxes.
If workers in an industry become less productive, we would expect the
A) supply of workers to increase. B) supply of workers to decrease. C) demand for workers to decrease. D) demand for workers to increase.
Refer to the information provided in Figure 4.2 below to answer the question(s) that follow.
Figure 4.2Refer to Figure 4.2. The market is initially in equilibrium at the intersection of S2 and D, and supply shifts from S2 to S1. Which of the following statements is true?
A. There is no need for price to serve as a rationing device in this case because the new equilibrium quantity is lower than the original equilibrium quantity. B. The market cannot move to a new equilibrium until there is also a change in supply. C. Price will still serve as a rationing device causing quantity demanded to rise from 8 to 11 soft pretzels. D. Price will still serve as a rationing device causing quantity supplied to fall from 8 to 4 soft pretzels.