There has been a massive relocation of heavy industry from the U.S. Northeast and upper Midwest to the "Sun Belt."
Indicate whether the statement is true or false
False (it is a myth.)
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The greatest global redistribution of income ever recorded occurred in the 1970s as a direct result of
a. a worldwide drop in food prices b. the OPEC cartel c. growing international oligopoly d. a shift from balanced to unbalanced oligopoly e. a shift from price leadership to kinked demand curve oligopoly
Behavioral economists focus on the assumption that
A. consumers have limitations that prevent them from examining all possible choices when they make decisions. B. consumers are irrational and so they do not seek to maximize utility. C. consumer choice is perfectly predictable by basic economic theory. D. consumer behavior cannot be predicted by economics.
Describe the costs of water pollution
What will be an ideal response?
In the U.S. economy, the effect on federal tax revenues and spending of a decrease in employment is to:
a. cut tax revenues and raise expenditures. b. cut spending and raise tax revenues. c. raise both tax revenues and expenditures. d. cut both spending and tax revenues.