Refer to Table 9-12. All of the following are terms of trade that could possibly benefit both countries except
A) 1 belt : 1.75 swords. B) 1 belt : 1.25 swords.
C) 1 belt : 1.33 swords. D) 1 belt : 2.25 swords.
D
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Which of the following policies would not prevent the Social Security trust fund from running out of assets?
A) Reduce promised benefits B) Reduce taxes C) Increase taxes D) Earn a higher rate of return
Refer to the above figure. If the government set a price floor of $3.50 per gallon, there would be
A) an excess quantity demanded equal to 100,000 gallons.
B) an excess quantity supplied equal to the distance BD.
C) an excess quantity supplied equal to the distance BF.
D) an excess quantity supplied equal to 100,000 gallons.
Unemployment statistics are often criticized for
A. overstating the number of people out of work, because retirees are included in the statistics. B. understating the number people out of work, because full-time college students are excluded. C. understating the number of people out of work, because discouraged workers are excluded in the statistics. D. overstating the number of people out of work, because the unemployment statistics include all low-income workers.
The short-run aggregate supply curve in modern Keynesian analysis represents the relationship between
A) the real output of goods and services in the economy and the price level when people have fully adjusted their behavior. B) the nominal output of goods and services and the real output of goods and services. C) the real output of goods and services in the economy and the price level. D) the real output of goods and services in the economy and the price level when people have not fully adjusted their behavior.