The following is an example of risk aversion
a. those applying for a well-paid job tend to be the most qualified
b. more reckless drivers opt for cars with fewer safety devices
c. the contractor with the lowest bid for a is the most qualified
d. Initial Public Offerings (IPOs) seek investors when prospects look poor
d
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Spending on programs that ________, such as Social Security and Medicare, is classified as entitlement and mandatory spending
A) is authorized only in times of budget deficits B) is authorized only in times of budget surpluses C) is authorized by Congress on an annual basis D) has been authorized by prior law
Which statement is true?
A. Frederic Bastiat's "Petition of the Candlemakers to Shut Out the Sun" was a plea for free trade. B. Frederic Bastiat's "Petition of the Candlemakers to Shut Out the Sun" was a plea for protection. C. Dollars are used for all international transactions. D. None of these statements are true.
Compared to the government in a typical industrial country, the government in a typical developing country:
a. plays the same role in investment spending. b. plays a larger role in investment spending. c. plays a smaller role in investment spending. d. plays no role in investment spending. e. plays a more negative role in investment spending.
Other things being equal, a reorganization of the OPEC cartel to permit it to increase world oil prices by 70 percent would most likely have which effect?
A. It would shift the aggregate demand curve right. B. It would shift the aggregate supply curve right. C. It would shift the aggregate demand curve right and the aggregate supply curve left. D. It would shift the aggregate supply curve left.