Historically our rate of economic growth has been about _____% a year.
A. 9.5
B. 7.5
C. 5.5
D. 3.5
D. 3.5
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The most immediate and direct effect of minimum price laws designed to prevent predatory pricing is to
A) guarantee profits to all sellers, large or small. B) guarantee profits to large sellers exclusively. C) guarantee profits to small sellers exclusively. D) preserve competition without guaranteeing profits. E) prevent competition without guaranteeing profits.
Refer to Figure 4-10. What area represents the deadweight loss after the imposition of the ceiling?
A) J + H B) C + E C) C + E + J + H D) G + H
If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock. B. long-run supply shock. C. long-run demand shock. D. short-run demand shock.
Under a gold standard, a country with a trade deficit should expect
A. gold to flow out of the country to other countries. B. gold to flow into the country from other countries. C. the value of its currency to appreciate. D. the value of its currency to depreciate.