Recent data suggests that the percentage of the population in poverty for African-American families is approximately five times that of white families.
Answer the following statement true (T) or false (F)
False
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Did the 1957 Treaty of Rome turn the EU into a truly unified market?
A) Yes, it paved the way for the current EMU. B) No, although it established a customs union, it failed to remove barriers to the movement of goods and factors within Europe. C) No, it was only after the German unification and locating the ECB in Frankfurt that unity was achieved. D) No, since the Northern members of the EU had larger endowments of capital and skilled labor. E) No, the Treaty of Rome created more trade barriers between European countries.
In a bank panic, the source of contagion is the
A) free-rider problem. B) too-big-to-fail problem. C) transactions cost problem. D) asymmetric information problem.
Which of the following explains the effect of prices on profits in the short-run?
a. The direct relationship between aggregate quantity demanded and national output. b. The direct relationship between aggregate quantity supplied and the price level. c. The inverse relationship between aggregate quantity demanded and national output. d. The inverse relationship between aggregate quantity supplied and profits. e. The inverse relationship between aggregate quantity supplied and national output.
The demand curve for leisure will slope upward if leisure is a ______ good and the income effect of a wage change is relatively _______.
A. normal; large B. inferior; large C. normal; small D. inferior; small