Political instability is an obstacle to development in:
A. both market and socialist economies.
B. neither market nor socialist economies.
C. market economies.
D. socialist economies.
Answer: A
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Which of the following statements is true?
A) There always exists some amount of unemployment in an economy. B) The unemployment in an economy normally increases at times of expansion and decreases at times of contraction. C) In almost every economy, each job opening is instantly filled by a qualified worker. D) The unemployment rate in an economy is constant over the long run.
Which of the following is an example of a voucher?
A) the postal service B) police services C) social security D) food stamps E) a patent on a pharmaceutical drug
Are common resources excludable? Are they rival in consumption?
If the MPC is 0.9, and the government cuts spending by $200b, the overall effect on GDP will be:
A. an increase of $2,000b. B. an increase of $180b. C. a decrease of $1,800b. D. a decrease of $2,000b.