China is politically authoritarian and does not have well-established property rights, characteristics which were once thought to hinder growth.
Answer the following statement true (T) or false (F)
True
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A common unscrupulous financial practice of railroad promoters (and the basis of the Credit Mobilier scandal) involved
a. federal tax evasion. b. "insider" ownership of railroad construction companies. c. sales of worthless railroad bonds to unwitting buyers. d. insurance fraud.
Let demand be given by P = 20 - 3Q and supply by P = 5 + 2Q. Equilibrium quantity will be:
A. 10 B. 3 C. 5 D. 11
Exhibit 14-6 Aggregate supply curve
?
In Exhibit 14-6, where the GDP = $1,200 billion,
A. everyone in the population over 16 years of age is working. B. the economy has reached the full-employment level of real GDP. C. GDP can increase to $1,100 billion without triggering an increase in the price level. D. no further increases in the price level can generate more real GDP.
National income
A. will always equal personal income. B. is always less than personal income. C. is always greater than personal income. D. may be greater than or less than personal income.