Since 1970, the U.S. economy has experienced five
A. periods of stagflation.
B. deflations.
C. periods of high inflation.
D. recessions.
Answer: D
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The diagram used to show one player's strategies across the top and the other player's strategies along the left, with the corresponding outcomes in the appropriate boxes is a
a. game matrix. b. flow chart. c. mixed strategy. d. an oligopoly problem.
A negative income tax system would provide all households, including the poor, with:
a. cash payments. b. incentives to earn income. c. higher income levels. d. medical assistance. e. lower tax bills than it does .
With a shift from no trade to free trade, if Country X is relatively labor-abundant and relatively land-scarce and Country Y is relatively labor-scarce and relatively land-abundant, the factor-price equalization theorem predicts that
A. rents will fall in Country Y but will remain unchanged in Country X. B. wages will increase in Country Y but will remain unchanged in Country X. C. rents will rise in Country X and fall in Country Y until they equalize. D. wages will rise in Country X and fall in Country Y until they equalize.
Which one of the following is an example of an external cost?
A) the cost to attend college B) labor costs to a firm C) emissions from a factory D) a house payment owed by a friend