The current deregulatory movement began to change laws to deregulation in the
A. early 1970s.
B. late 1970s.
C. early 1980s.
D. early 1990s.
Answer: B
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Joe's income is $500, the price of food (F) is $2 per unit, and the price of shelter (S) is $100. Which of the following represents his budget constraint?
A) 500 = 2F + 100S B) F = 250 - 50S C) S = 5 - .02F D) All of the above
Outputs include goods but not services
a. True b. False Indicate whether the statement is true or false
If the trade surplus has fallen, which of the following is a possible explanation?
a. The real exchange rate rose. b. Foreign income fell. c. Domestic income fell. d. The foreign price level rose.
If productivity increases by 3 percent but wages increase by 4 percent, then it is most likely that the price level will:
A. fall by 1 percent. B. fall by 7 percent. C. rise by 1 percent. D. rise by 7 percent.