Diamonds are expensive because:
A. very few diamonds are discovered each year.
B. the seller of most diamonds in the world restricts output.
C. they are a symbol of luxury.
D. they are a form of conspicuous consumption.
B. the seller of most diamonds in the world restricts output.
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Which of the following accurately describes condemnation by right of eminent domain?
(a) It involves the redistribution of property first owned by the government to private businesses. (b) It was never exercised for such private purposes as acquiring land for canal or railroad construction during the antebellum period. (c) The benefits can be diverse and the costs can be concentrated. (d) It was never exercised by the federal government before the 1870s.
Henri earned a salary of $50,000 in 2001 and $70,000 in 2006 . The consumer price index was 177 in 2001 and 265.5 in 2006 . Henri's 2006 salary in 2001 dollars is
a. $35,000.00. b. $46,666.67. c. $61,950.00 d. $105,000.00.
When there is a recessionary gap, (actual) Real GDP is __________ Natural Real GDP, and the (actual) unemployment rate is __________ the natural unemployment rate
A) greater than; less than B) greater than; greater than C) greater than; equal to D) less than; greater than E) less than; less than
What happened to the international gold standard during WWI?
A) It flourished, since no nation trusted the other nations' currencies. B) It was abandoned. C) It did not disappear but was weakened by a major decline in international trade. D) It was relegated to government control.