The economic boom of the 1990s:
a. ended with a recession that lasted from early 2000 to the 2nd quarter of 2002.
b. ended with the financial crash of 2001, with unemployment reaching 7.5%.
c. ended with the stock market and real investment tumbling, and unemployment near 9%
d. Both a and b are correct.
e. None of the above are correct.
e. None of the above are correct.
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If the pollution havens hypothesis is true, we should expect world pollution to decline as a result of international trade and globalization
Indicate whether the statement is true or false
Which of the following best illustrates the concept of derived demand?
a. As income rises, the demand for TVs rises. b. A fall in the price of cameras will increase the demand for film. c. A fall in the demand for tires will reduce the demand for rubber. d. When the price of gasoline rises, the demand for automobile repair falls. e. If consumers expect the price of coffee to rise, demand for coffee rises.
The real wages of workers will tend to be high when
a. industries are automating at a slow rate. b. output per worker is high. c. capital is scarce. d. profits are low.
The monetary approach basically looks at as the fundamental variable affecting exchange rates.
a. interest rates; short-run b. interest rates; long-run c. the price level; short-run d. the price level; long-run