Discrimination exists when a man and a woman with the same levels of education earn different incomes
a. True
b. False
Indicate whether the statement is true or false
False
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Part of the argument against deficits is that they
a. increase interest rates and investment. b. increase interest rates and decrease investment. c. decrease interest rates and investment. d. decrease interest rates and increase investment.
Answers will vary but should include the idea of exposure to risk. Even with a marked comparative advantage over other countries, a country that specialized in just one product would be exposed to a great deal of risk. For example, if a country specialized only in soybean production, but an infestation or weather event destroyed the crop, then the country would have no other product to bring to market, and its economy would be devastated.
What will be an ideal response?
Refer to Figure 7.1. Which of the following are the combinations of movies and T-shirts that would exhaust the budget?
A. A and E B. C and F C. D and E D. A and G
Answer the following questions true (T) or false (F)
1. The index of leading economic indicators of business activity is designed to indicate business fluctuations before they occur. 2. The producer price index accounts for changes in the prices of goods and services purchased by consumers. 3. The short run Phillips curve illustrates the relationship between the rate of inflation and the unemployment rate.