One In the News article titled "Perceptions of Government Failure" indicates that people think that the government is not very trustworthy when it comes to solving domestic issues. If this is true, this is an example of
A. The free-rider dilemma.
B. The problem of externalities.
C. Market failure.
D. Government failure.
Answer: D
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Aggregation means the:
A. worsening of an economic situation. B. adding up of individual economic variables to obtain economy wide totals. C. participation in national economic policy discussions D. enhancement of the power and wealth of a nation.
What is the economic criterion most often used to compare living standards across countries?
a. Real GDP growth. b. Unemployment rate. c. Incidence of AIDS. d. Rate of population growth. e. Real per capita GDP.
The Federal Reserve System has
A. 50 district banks. B. 12 district banks. C. 7 district banks. D. 24 district banks.
If a textile worker earns $38,000 per year working in the textile mill on a job that was saved by a protective tariff costing consumers $148,000 per year (for that job alone), the textile worker could be paid $48,000 to stay at home all day watching TV until the protective tariff is eliminated, and consumers would still be better off by approximately
A. $48,000 per year. B. $168,000 per year. C. $18,000 per year. D. $100,000 per year.