The joining of the eastern and western sections of nation's first transcontinental railroad was commemorated with the driving of the last spike on May 10, 1869:
a. in Salt Lake City.
b. in Washington, D.C.
c. at Promontory Point.
d. on the rim of the Grand Canyon.
c. at Promontory Point.
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Economics is the study of
a. how the human race differs from other species b. how individuals amass personal fortunes in the stock market c. how individuals and nations deal with the problem of scarcity d. role that money plays in the economy e. how goods and services are distributed throughout the world
From the demand side, the equilibrium level of GDP is one at which
a. everyone who wants a job has one and firms are not looking for extra workers. b. the only unemployment is frictional. c. aggregate demand equals production. d. the only unemployment is cyclical.
The most far-reaching aspect of globalization in the past two decades has been in
a. financial flows. b. export levels. c. import levels. d. human rights advances.
The most widely used measure of income inequality is
A) the Bureau of Labor Statistics' cost-of-living index. B) the Laffer curve. C) the Lorenz curve. D) the Gemini coefficient.