Which of the following would not be considered a boom period as measured by the percentage growth rate of U.S. output of goods and services?
A. the Roaring 20s
B. the conversion from a wartime to a peacetime economy following World War II
C. World War II
D. the late 1990s
B. the conversion from a wartime to a peacetime economy following World War II
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The magnitude of the tax multiplier is smaller than the magnitude of the government expenditure multiplier because
A) a change in taxes does not change expenditures. B) an increase in taxes decreases expenditures. C) a decrease in government expenditure decreases tax revenue. D) a change in taxes does not change expenditures by as much as the same size change in government expenditure. E) a change in taxes creates additional induced taxes.
Country A produces 10 chairs and 6 tables using its resources. Country B produces 12 chairs and 18 tables. Determine the comparative advantage and the absolute advantage that both countries enjoy
What will be an ideal response?
Answer the following statements true (T) or false (F)
1) If retailers have a resale price maintenance agreement with a manufacturer, typically if the retailers charge a price above the specified minimum price, this will lower their profit. 2) It is not possible for an online retailer with no physical locations to free ride on other retailers' in-store product-specific services. 3) A manufacturer's ultimate objective in specifying a minimum resale price is promotional. 4) If retailers have a resale price maintenance agreement with a manufacturer, competition forces successful retailers to provide product-specific services. 5) The treatment of resale price maintenance in the European Union is the same as in the United States.
A situation in which the price charged is equal to society's opportunity cost is known as
A. market failure. B. marginal profits. C. marginal monopoly pricing. D. marginal cost pricing.