Which statement is true?
A. Subsidy payments to farmers were almost completely phased out in 2007.
B. The so-called new economy of the 1990s was neither new, nor very different from the economy of the previous 25 years.
C. Until the time of the Great Depression, the United States was primarily an agricultural nation.
D. There were no recessions during the presidency of Bill Clinton (January 1993-January 2000).
D. There were no recessions during the presidency of Bill Clinton (January 1993-January 2000).
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Back to the text: Amar is a safekeeper of people's gold (their money). He is a smart businessman who does not gamble and keeps 20 percent of the deposited gold on reserve to handle the transactions demands of depositors. Amar holds to a sound
a. excess reserve depletion rate b. liquidity of money c. volatility of money d. fractional reserve rule e. quantity theory of money
Since it is costly for stockholders to monitor corporate managers, managers may be able to achieve personal perks and pursue other policies that conflict with profit maximization. This is an example of
a. an external benefit. b. economies of scale. c. the principal-agent problem. d. sunk costs.
When a nation first begins to trade with other countries and the nation becomes an importer of corn,
a. this is an indication that the world price of corn exceeds the nation's domestic price of corn in the absence of trade. b. this is an indication that the nation has a comparative advantage in producing corn. c. the nation's consumers of corn become better off and the nation's producers of corn become worse off. d. All of the above are correct.
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.