Activists believe ________
A) the self-correcting mechanism in the economy is very slow
B) in the adoption of policies to eliminate excessive unemployment
C) doing nothing will leave too many people out of work for too long
D) all of the above
E) none of the above
D
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Which of the following is an output of production?
A) a haircut B) a U.S. savings bond C) a share of Acme Corporation stock D) None of the above.
Exhibit 21-6 Dollars per British pound QuantityDemanded Dollarsper Pound QuantitySupplied 200 5 600 240 4 480 300 3 410 360 2 360 390 1 330 In Exhibit 21-6, the equilibrium exchange rate is:
A. 5. B. 4. C. 3. D. 2.
Scarcity arises because
A. shortages always occur. B. natural resources are abundant. C. some people do not behave in a rational manner. D. resources are limited and are inadequate to meet all human wants.
The problem with the strategy of achieving credibility through reputation is that
A. rules always have a lower cost than reputations in maintaining credibility. B. reputations lack any commitment. C. serious costs may be incurred during the period in which reputation is established. D. reputations are rarely credible.