In which of these years was the U.S. poverty rate the highest?
A. 1960
B. 1970
C. 1980
D. 1990
A. 1960
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Refer to Table 2-9. What is Japan's opportunity cost of producing one pound of rice?
A) 0.04 units of a wristwatch B) 4 wristwatches C) 25 wristwatches D) 40 wristwatches
An increase in government spending increases the supply of money in our economy
Indicate whether the statement is true or false
Treble damages are equal to ________ times the amount of damages suffered by the ________.
A) five; cartel firm B) five; winning plaintiff C) three; cartel firm D) three; winning plaintiff
When estimating GDP, changes in the level of inventory are calculated because:
a. it indicates the level of employment in the economy. b. it provides information about a firm's expectations. c. it is a good indicator of the competitiveness of the economy. d. it shows the level of business spending by firms. e. it determines the value of goods produced in a year but not sold in that year.