An example of the political business cycle in action came during the ________
A) Roosevelt administration of the 1920s
B) Nixon administration of the 1970s
C) Reagan administration of the 1980s
D) Bush administration of the 2000s
B
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Suppose that $1 U.S. costs $1.50 Canadian. If in St. Louis a CD costs $10 U.S. and in Montreal it costs $15 Canadian, then ________
A) purchasing power parity holds B) Canadians will buy CDs in St. Louis C) Americans will buy CDs in Montreal D) Virgin Records will have an incentive to build more stores in North America
When income increases, the demand curve for an inferior good
A) shifts to the right. B) shifts to the left. C) moves up along the demand curve for the product. D) remains constant.
"In-kind" rather than cash transfer payments are represented by
A. public assistance payments. B. unemployment insurance benefits. C. Social Security benefits. D. food stamps.
Strategic decision making is most likely to occur in which market structure?
A. Oligopoly B. Monopolistic competition C. All firms engage in strategic decision making. D. Perfect competition