Refer to the scenario above. Which of the following will happen if Mike decides to mow his lawn by himself?
A) GDP will remain unchanged. B) Per capita income will increase.
C) GDP will decrease. D) GDP will increase.
C
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Why are harder forms of liquor produced in "dry" counties in the U.S.?
A) Drinkers in dry counties only prefer liquor to beer and wine. B) Producers only prefer to drink liquor. C) Producers find liquor more efficient to produce, given the rules of the game. D) Trick question: No liquor is produced in "dry" counties.
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.
Summarize the impacts of prices ceilings and price floors on the free market
What will be an ideal response?
Until about 1983, almost all of U.S. national debt stemmed from financing wars or from the loss of tax revenues that accompany recessions.
Answer the following statement true (T) or false (F)