Which of the following racial/ethnic populations make up the greatest numbers of those in poverty?
A. Whites (non-Hispanic)
B. Hispanics
C. Asians
D. Blacks (non-Hispanic)
Answer: A
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In the table above, the official U-3 unemployment rate is
A) 50 percent. B) 15 percent. C) 10 percent. D) 5 percent.
When restrictions alter the pattern of international trade, the _____ benefit and the _____ suffer(s)
a. domestic consumers; domestic producers b. domestic consumers; government c. domestic producers; domestic consumers d. foreign producers; domestic producers e. foreign producers; domestic consumers
Economic theory predicted that the price of a depletable resource would rise by 10 percent. In reality, the price fell by 5 percent. Which of the following events could explain this discrepancy?
a. Known reserves of the resource were depleted. b. The interest rate rose by 15 percent. c. Antitrust enforcement broke up a cartel among major suppliers of the resource. d. The government imposed an effective price floor.
Technological innovations will cause:
A. the production possibilities curve to stay the same. B. the production possibilities curve to shift to the left. C. the production possibilities curve to shift to the right. D. an economy to operate below its production possibilities curve.