Which of the following most accurately describes world population growth?
a. World population has increased steadily during the past 6,000 years.
b. World population has exhibited significant cyclical patterns of growth and decline.
c. World population was relatively small until 1750, after which it increased rapidly.
d. World population was small until World War II, after which it increased very quickly.
c. World population was relatively small until 1750, after which it increased rapidly.
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In the summer of 2008, the price of gasoline increased greatly. If the demand curve for gasoline did not shift, which of the following occurred?
A) Drivers received no consumer surplus after the price increase. B) Consumer surplus increased if drivers drove less. C) Consumer surplus decreased. D) If consumers drove the same amount, they received less total benefit. E) Both the marginal benefit from each gallon of gasoline and the consumer surplus from each gallon of gasoline decreased.
Changes in all of the following shift the LM curve except
a. the price level. b. income. c. the money supply. d. money demand. e. all of the above shift LM curve.
If you gave your friend a gift of a corporate bond, such as a $100 General Motors bond, your friend would have a gift of
a. M1 money b. M2 and fiat money c. specie d. near money e. not money
A recent example of the administrative lag came in the form of it taking
A. several months in 2003 for Congress to agree on a specific tax cut package, even after they had agreed on having one. B. very little time for the effects of the 2003 rebate checks to have an effect on the economy. C. only a month or two from the passage of the 2003 tax cut to the issuance to rebate checks. D. until Summer 2003 to recognize that the recession of 2001 ended in December of 2001.