Economics is a
A. physical science.
B. social science.
C. natural science.
D. hard science.
Answer: B
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Compared to a single-price monopolist, a price-discriminating monopolist
A) produces more output. B) produces the same amount of output but charges a higher price. C) generates a larger deadweight loss. D) produces less output but charges a lower price.
United States net unilateral transfers have been
a. positive every year since 1950 b. negative every year since 1950 c. positive every year since 1950 except 1991, during the Persian Gulf War d. negative every year since 1950 except 1991, during the Persian Gulf War e. positive about half the time and negative about half the time since 1950
The United States Congress of Industrial Organizations was born as a result of all of the following except
a. minimum wage laws that brought increased competition to unionized workers b. the industrial growth brought about by technological change c. craft orientation being an impediment to further union growth d. the need for broader representation of workers with very different skills and occupations but belonging to a common industry e. the failure of craft unions to restructure its orientation according to the needs of industrial workers
Gross fiscal expenditure in a country increased by $100,000 during a certain year. If the marginal propensity to save is 0.5, then real GDP in this country has increased by: a. $125,000. b. $50,000
c. $200,000. d. $100,000.