Most doctors are employed by the government and most hospitals are owned by the government in
A) Canada.
B) Japan.
C) the United Kingdom.
D) the United States.
Answer: C
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A recent accounting graduate from a major business school is searching for a place to begin his career as an accountant. This individual is best considered as
A) structurally unemployed. B) seasonally unemployed. C) cyclically unemployed. D) frictionally unemployed.
Which is NOT true about the use of economic models?
A) Economic models are simplified representations of the real world. B) Economists always use experiments in science laboratories to test their theories. C) Economists use what has already happened in the real world to test their theories. D) Economists are employed to explain economic phenomena but are never used to predict what might happen next.
Higher energy prices can be used to adequately explain the productivity slowdown in
A. the United States and the rest of the world. B. the United States but not the rest of the world. C. the rest of the world but not the United States. D. neither the United States nor the rest of the world.
Is the call for protection on the basis of "infant industry" valid?
a. No, because protection has no place in industrial development. b. No, protection is always improper. c. Uncertain, economic theory has no answer to this question. d. Yes, although it can be overstated and abused.