If the U.S. price level is increasing by 3 percent annually and the Japanese price level is increasing by 1 percent annually, then according to purchasing-power parity, by about what percent would the nominal exchange rate be changing?
a. decreasing by 4 percent
b. decreasing by 2 percent
c. increasing by 4 percent
d. increasing by 2 percent
d
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Investment as defined by economists differs from investment as defined by the general public in that
What will be an ideal response?
Greg learns how to bake from his grandmother. This is an example of a. human capital, but not technological knowledge
b. technological knowledge, but not human capital. c. both human capital and technological knowledge. d. neither human capital nor technological knowledge.
Which of the following is a public assistance or welfare program as opposed to a social insurance program?
A. Supplemental Security Income (SSI). B. Unemployment compensation. C. Medicare. D. Social Security.
The Clean Air Act of 1970, which was the command-and-control approach that the government used to reduce the amount of carbon monoxide produced by automobiles, was
A. unsuccessful in reducing the amount of carbon monoxide. B. very flexible in allowing polluters to respond in different ways. C. the least costly way to reduce the amount of carbon monoxide in the air. D. successful in dramatically cutting the amount of carbon monoxide in the air.