Which of the following can explain an increase in the demand for housing in retirement communities?
A. Mandatory government legislation.
B. A drop in real estate prices.
C. A drop in the average age of retirees.
D. An increase in the population of the elderly.
Answer: D
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Which conditions must be present for "perfect competition" to occur?
A) A large number of buyers and sellers, and all of them enjoy full and complete information. B) Sellers produce identical products. C) There is a costless mobility of resources. D) Everybody behaves as a price taker. E) All of the above.
In 2009, Congress passed a bill that involved government spending increases and tax cuts with the purpose of stimulating the US economy. This policy is an example of
a. an automatic stabilizer
b. contractionary fiscal policy
c. expansionary fiscal policy
d. expansionary monetary policy.
Which of the following statements is true?
A. Firms are unlikely to relocate their high-pollution production to countries with lax environmental laws because they fear that such moves will result in adverse effects on their reputations. B. Evidence shows that measures to keep the environment clean represent a large percentage of the total costs of production for a firm in a country with strict environmental laws. C. There are large incentives for firms to relocate from countries with strict environmental laws to countries with lax environmental regulation. D. Imposition of a tax on the production of a particular high-pollution product typically has a greater impact on consumer surplus than on producer surplus.
Which statement is false?
A. Our balance of payments is the entire flow of U.S. dollars and foreign currencies into and out of the country. B. Our trade balance is just the difference between our imports and our exports. C. Our trade balance has been negative since the mid-1970s. D. None of these statements are false