The world's population increased so rapidly from 1800 to the present day because of higher:
A. Birthrates and lower standards of living
B. Standards of living and higher birthrates
C. Standards of living and lower death rates
D. Death rates and higher standards of living
C. Standards of living and lower death rates
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Refer to Table 9-16. Looking at the table above, real wages ________ from 2014 to 2015, and real wages ________ from 2015 to 2016
A) fell; fell B) fell; rose C) rose; fell D) rose; rose
In 1973, the Organization of Petroleum Exporting Countries (OPEC) engineered a quadrupling of oil prices by restricting oil production. Which of the following is an appropriate description of this negative supply shock?
A) The AS curve likely shifted to the left and output likely fell because of this adverse shock. B) In the short-run there was a movement out of general equilibrium leading to an increase in inflation as a likely result of this adverse shock. C) In the short-run there was a movement out of general equilibrium leading to an increase in unemployment as a likely result of this adverse shock. D) all of the above E) none of the above
Which of the following has served most recently as Chairman of the Board of Governors of the Federal Reserve System?
A) Nancy Pelosi B) Alan Greenspan C) Ben Bernanke D) Paul Volcker
Which of the following is TRUE of incentives?
A. All of the people in a particular nation are motivated by the same incentives. B. Different people are motivated by different incentives. C. In economics, people are assumed to respond to disincentives instead of incentives. D. Money is the only measure of incentives.