Since 1948, the average unemployment rate in the United States has been about
A) 3%.
B) 6%.
C) 8%.
D) 10%.
B
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The "Superbowl Effect" mentioned in your textbook is considered a fallacy or a mistake in reasoning because it's wrong to believe
A) one event always causes another to happen if it comes before the other. B) if you gain, I must lose. C) the whole must always be equal to the sum of its parts. D) what is true in one society will always be true in all societies. E) whatever goes up must come down again.
According to some economists, the protection granted to infant industries should be
a. terminated after one year. b. for new firms that eventually would develop significant economies of scale in their production processes c. restricted to firms that face little competition d. based on current absolute advantage e. permanent
The gold standard ended with the:
a. rise of Napoleon to power. b. American Declaration of Independence. c. outbreak of World War I. d. first Arab oil embargo. e. presidency of Richard Nixon.
An open market sale of securities by the central bank to banks usually will:
A. induce the banks to make more loans since their revenue will decrease if they do nothing. B. diminish the inclination of banks to make loans. C. increase the banks' willingness and ability to make loans. D. increase the amount of deposits in the banking system.