High oil prices in the 1970s motivated ________ to look for oil, which was found in ________.
A. the United Kingdom; the North Sea
B. Saudi Arabia; their desert
C. the Soviet Union; the Ural Mountains
D. the United States; Oklahoma
Answer: A
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During the last half of 2012, the U.S. unemployment rate was just under 8 percent. Historical experience suggests that this is
a. above the natural rate, so real GDP growth was likely low. b. above the natural rate, so real GDP growth was likely high. c. below the natural rate, so real GDP growth was likely low. d. below the natural rate, so real GDP growth was likely high.
Our gross savings as a percentage of GDP has declined from over 20% in 1960 to _________ percent in 2009.
A. about 14 B. just under 12 C. a little over 10 D. about 6
Figure 1A.2Refer to Figure 1A.2. If this consumer rents 60 DVDs, how many movie tickets will she purchase?
A. 0 B. 5 C. 10 D. 15
Rent-seeking behavior is limited to those industries that lobby for government help in preserving monopoly powers.
Answer the following statement true (T) or false (F)