A command system uses a group of planners or central authority to make basic economic decisions
a. True
b. False
Indicate whether the statement is true or false
True
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Which piece of legislation allowed states to pass right-to-work laws?
A) Wagner Act B) Landrum-Griffin Act C) Taft-Hartley Act D) National Industrial Recovery Act
In the short run, if a monopoly is forced to charge a price equal to marginal cost:
A) output will fall. B) the deadweight loss will decrease. C) consumer surplus will decrease. D) other firms will enter the industry.
The _______________________ (TARP) is an example of a government program created to help stabilize the financial sector during the financial crisis of 2007-2009
A) Times Are Really Problematic B) Tarnished Assets Recovery Program C) Troubled Assessments Recovery Program D) Troubled Assets Relief Program
Per capita GDP will definitely fall when
A. Population increases. B. The labor force decreases. C. The population growth rate exceeds the economic growth rate. D. GDP decreases.