In the United States, globalization has caused workers in the education, health care, and government sectors to face:
A. higher prices on consumer goods.
B. longer hours to compete with the higher production levels abroad.
C. little or no downward pressure on their wages.
D. lower wages.
Answer: C
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A One-Child Policy was instituted in 1979 in ________
A) Brazil B) South Africa C) India D) China
When the price of a good changes, the substitution effect can be found by comparing the equilibrium quantities purchased
A) on the old budget line and the new budget line. B) on the original indifference curve when faced with the original prices and when faced with the new prices. C) on the new budget line and a hypothetical budget line that is a shift back to the original indifference curve parallel to the new budget line. D) on the new indifference curve.
The quantity theory of money can explain hyperinflations but not moderate inflation
a. True b. False Indicate whether the statement is true or false
Most lighthouses are operated by the government because
a. of the free-rider problem. b. lighthouses are no longer valued by society. c. most lighthouses are only tourist attractions in state and national parks. d. shipping companies would not be able to afford maintenance fees for lighthouses.