Before it became illegal, cigarette manufacturers once relied heavily on TV advertising. According to the textbook, when the government banned TV advertising, the cigarette manufacturers:
A. thought their First Amendment rights were being violated.
B. supported the ban due to their concern over health effects of smoking.
C. benefited because the decision about whether to advertise on TV was a prisoner's dilemma.
D. were made worse off because the ban significantly reduced cigarette sales.
Answer: C
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As of 2002 the European Union has announced that 10 new members will be allowed to join the union? Which of the following countries is included in that group?
A) Poland B) Russia C) Turkey D) All of the above.
If an individual's supply of labor curve is positively sloped throughout, then:
a. the substitution effect always dominates the income effect. b. the income effect always dominates the substitution effect. c. the substitution effect dominates at low real wage levels and the income effect dominates at high real wage levels. d. the income effect dominates at low real wage levels and the substitution effect dominates at high real wage levels.
Fiscal policy is a change in either government purchases or the money supply designed to change total spending in the economy, thereby influencing the levels of employment and output
a. True b. False
Thomas Malthus's predictions turned out to be wrong due to
a. technological advances such as those during the Industrial Revolution. b. smaller populations now than in the time of Malthus. c. the effects of brain-drain. d. unlimited natural resources.