The economic burden of World War II for the United States was primarily:
A. Shifted to future generations by bond financing
B. Borne by the persons who lived during the war period
C. Shifted to foreign nations who were defeated during the war
D. Borne by the industries which produced military products during the war
B. Borne by the persons who lived during the war period
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Money supply M1 does not include the currency held by
A. households in their wallets or purses. B. business firms. C. state and local governments. D. commercial banks.
Which of the following can cause official unemployment figures to underestimate the true unemployment rate?
A) Some people get discouraged and quit looking for a job. B) Some people engage in illegal activities. C) Some people work "off the books." D) Some people work overtime.
An example of moral hazard is
a. workers shirking when the boss is not looking b. health care insured dieting and exercising c. drivers of safer cars turning their phones off before driving d. borrowers investing their loan proceeds exactly as the bank requires
If the elasticity of supply of a good is equal to 0.62, then we can say that the supply curve for the good is: a. elastic
b. inelastic. c. perfectly elastic. d. perfectly inelastic.