To show the values of an economic variable for different groups in a population at a point in time, it is best to use a
A) trend-section diagram.
B) cross-section graph.
C) linear graph.
D) time-series graph.
E) scatter diagram.
B
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A horizontal demand curve is perfectly elastic because a change in price will not induce a change in quantity demanded.
Answer the following statement true (T) or false (F)
Economic profit is accounting profit minus the cost of capital
Indicate whether the statement is true or false
Crowding out would most likely occur when:
A. the federal government engages in bond sales to finance its budget deficit. B. tax receipts rise more slowly than anticipated, resulting in the need to cut government spending. C. workers lose jobs as a result of anti-inflationary fiscal policies. D. Congress enacts budget cuts to balance the budget.
In 1995, the United States threatened to impose 100 percent tariffs on ________ from ________ if it didn't loosen its protectionist policies.
A. luxury cars; Japan B. auto parts; Japan C. brandies; France D. light trucks; Germany