In regards to the uncommon length of the Great Depression, both Schumpeter and Higgs contend that:
a. private investment remained depressed in part due to the political climate created by the New Deal.
b. Social Security and the freedoms granted to labor, along with a progressive tax structure promoted growth in private investment.
c. the undistributed profits tax of 1936 encouraged businesses to undertake long-term investments.
d. the New Deal rhetoric from President Roosevelt, offered a pro-business slant that offended labor groups.
a. private investment remained depressed in part due to the political climate created by the New Deal.
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Anheuser-Busch purchased the Labatt brewery in Canada and has expanded its market and product offerings. This is an example of:
A. foreign direct investment. B. foreign portfolio investment. C. importing. D. exporting.
When the price of a good or service changes,
a. the supply curve shifts in the opposite direction. b. the demand curve shifts in the opposite direction. c. the demand curve shifts in the same direction. d. there is a movement along a given demand curve.
Which of the following is characteristic of perfectly competitive markets?
A.) Differentiated products B.) A large number of firms C.) Price below marginal cost D.) Significant barriers to entry
Political corruption occurs whenever:
A. logrolling is used to secure votes for controversial legislation. B. government officials use unlawful misdirection of governmental resources for their own personal gain. C. special interest groups contribute to elected officials, who in turn support legislation that benefits the special interest group. D. there is pork barrel politics involved.