An economist would say that the benefits of regional integration are determined by
a. the formation of a political union.
b. the amount of trade diversion.
c. the amount of trade creation.
d. the level of consumer involvement.
e. the location of manufacturing facilities.
Answer: c. the amount of trade creation.
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"Privatization of government owned industries is a more desirable way to operate an economy" is a ________ statement about ________ policy.
A. normative; monetary B. positive; structural C. normative; structural D. positive; fiscal
The rules of the National Collegiate Athletic Association (NCAA) limit the amount of money colleges can offer to athletes to
A) assure balanced competition on collegiate athletic fields. B) maintain high ethical standards in college sports. C) preserve the spirit of amateurism in an age of professionalism. D) prevent competition for star athletes from raising the price of enrolling them. E) prevent the schools with the most profitable athletic programs from attracting more than their share of the best athletes.
Refer to Table 27-4. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if Congress and the president do not use fiscal policy
If Congress and the president use fiscal policy successfully to keep real GDP at its potential level in 2017, which of the following will be lower than if Congress and the president had taken no action? A) potential GDP and the inflation rate B) real GDP and the unemployment rate C) real GDP and potential GDP D) real GDP and the inflation rate
The government program that provides low-income people with government-issued stamps that can be redeemed for specific food items at food stores and supermarkets is the
a. emergency aid program b. food stamp program c. school lunch program d. hunger relief program e. meals on wheels program