Which of the following statements is true?
A. There was a great deal of stagflation in the 1930s.
B. The inflation rate fell during the Eisenhower Administration, but rose during the Reagan years.
C. Output in the United States fell by about one-third between 1929 and 1933.
D. The Medicare and Medicaid programs were inaugurated during the New Deal.
C. Output in the United States fell by about one-third between 1929 and 1933.
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All of the following are characteristics of a monopolistically competitive industry EXCEPT
A) homogeneous products. B) many firms. C) low barriers to entry and exit. D) sales promotion and advertising.
Which of the following countries has the most unequal distribution of income?
a. The United States. b. Czech Republic. c. Brazil. d. cannot be determined.
An example of peak pricing is charging
a. more for long-distance phone calls in the daytime. b. less for electricity at night. c. more for public transportation in rush hours. d. All of the above are true.
Dilbert's Incorporated produced 5,000,000 units of accounting software in 2010 . At the start of 2011 the pointy-haired boss reduced total annual hours of employment from 10,000 to 8,000 and production was 4,800,000 . These numbers indicate that productivity
a. fell by 4%. b. fell by 20%. c. rose by 12%. d. rose by 20%.