Withholding of the federal income tax _____
a. was first used during the civil war
b. was first used during World War I
c. was first used during World War II
d. was first used after World War II
c
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Which statement is true?
A. We have had at least one recession in the 1940s, 1950s, 1960s, 1970s, 1980s, and 1990s. B. We have had at least two recessions in any one decade since World War II. C. We have had at least three recessions in all of the decades since World War II. D. None of the choices are true.
By using the market basket approach:
A. it allows us to see how cost of living is affected by the changing prices of different goods relative to how much of each good you buy. B. we get a moreaccurate picture of the changing cost of living than by simply averaging the changing prices of goods listed in the market basket. C. we get a clearer picture of the changing cost of living than by averaging the changing prices of all goods and services produced. D. All of these statements are true.
A perfectly competitive market:
A. is dominated by one firm. B. consists of at most five firms. C. is made up of a large number of firms. D. consists of only one firm.
The Friedman-Savage utility function can explain why
A) people buy automobile insurance. B) somebody becomes addicted to gambling. C) people become more risk averse as their wealth increases. D) people place small bets to have a chance at winning a large amount.