Business cycles can be described best as
(a) being pervasive during the antebellum period but their effects were isolated to the private sector.
(b) being pervasive during the antebellum period but their effects were isolated to the public sector.
(c) being pervasive during the antebellum period and their effects were felt both in the private and public sectors.
(d) uncommon during the antebellum period but their effects were felt significantly when present.
(c)
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It is true of externalities that they
A. are always detrimental. B. are always beneficial. C. arise when all costs, social and private, are included in production cost. D. cause the price system to misallocate resources.
The original rationale for government involvement in health care was _____
a. in helping to prevent and control contagious disease b. the dissemination of health care information c. the provision of health care insurance for the needy d. the provision of health care for the elderly
The poorer a country is the:
A. more difficult it is to pay for things that will bring it out of poverty. B. less they have to give up for the basic things that will bring them out of poverty. C. easier it is to pay for things that will bring it out of poverty. D. more they can invest in all the components of productivity at once.
The phrase "capital formation" is synonymous with
a. investment spending. b. buying shares of stock. c. creating mutual funds. d. purchasing financial assets.