The most far-reaching aspect of globalization in the past two decades has been in
a. financial flows.
b. export levels.
c. import levels.
d. human rights advances.
a. financial flows
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When economists disagree about whether legislation is a good idea, even when they agree about its impacts, the disagreements are usually over
a. normative issues b. positive issues c. the mathematical calculations in an economic model d. whether microeconomics or macroeconomics is more important e. whether economic theory is useful in explaining the behavior of actors in the economy
Which of the three functions of money are commonly met by each of the following assets in the U.S. economy?
a. paper dollar b. precious metals c. collectibles such as baseball cards, stamps, and antiques
Suppose you observe that the price of a good increases and that the quantity of this good sold also increases. If only the demand curve or the supply curve shifts this suggests that
A) supply increased over time while demand remained the same. B) supply decreased over time while demand remained the same. C) demand increased over time while supply remained the same. D) demand decreased over time while supply remained the same.
All of the following are true regarding oligopoly EXCEPT
A) there are few sellers. B) there is some ability to set price. C) there is no competition. D) entry and exit is partially restricted.