Comparing the United States economy in the 1920s with the economy in the 1990s, all of the following were similar EXCEPT
A. both decades had strong economic expansion.
B. both decades had soaring stock markets.
C. both decades had rapid technological progress.
D. both decades had the federal government take a laissez-faire approach to the economy.
D. both decades had the federal government take a laissez-faire approach to the economy.
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With no Ricardo-Barro effect, a government budget surplus
A) decreases the demand for loanable funds and increases the real interest rate. B) increases the demand for loanable funds and lowers the real interest rate. C) increases the supply of loanable funds and lowers the real interest rate. D) increases the demand for loanable funds and raises the real interest rate. E) decreases the supply of loanable funds and lowers the real interest rate.
Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a concert ticket. If the price of one of the tickets is $36
A) Violet and Walter receive a total of $52 of consumer surplus from buying one ticket each. No one else will buy a ticket. B) Xavier, Yolanda, and Zachary will receive a total of $68 of consumer surplus since they will buy no tickets. C) Violet and Walter will each buy two tickets. D) Walter will receive $4 of consumer surplus from buying one ticket.
In a perfectly competitive industry, the firm's marginal revenue curve is
A) downward sloping. B) upward sloping. C) vertical. D) horizontal.
Which of the following would be a topic considered in the field of macroeconomics?
a. Studying the amazing recent growth of the Chinese economy. b. Studying the movement of US manufacturing firms to China. c. Studying the differences in wages between menand women in the United States. d. Studying the effect of rent controls on the housing market in New York City. e. Studying the impact of environmental regulations on the well-being of human populations.