A person will do more good pursuing his own self-interest than if he consciously set out to promote the public good was the view of
A. Karl Marx.
B. John Maynard Keynes.
C. Mikhail Gorbachev.
D. Adam Smith.
D. Adam Smith.
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_____ occurs when unobservable qualities are valued incorrectly because of a lack of information
a. Moral hazard b. Adverse selection c. Conspicuous consumption d. Marginal selection e. Statistical discrimination
The national debt is unlikely to cause national bankruptcy because the:
a. federal government cannot refinance the outstanding national debt. b. interest on the public debt equals GDP. c. national debt cannot be shifted to future generations for repayment. d. national debt can be refinanced by issuing new bonds.
The amount of U.S. exports to the rest of the world is primarily determined by
What will be an ideal response?
According to your text, during the 2010s, the inflation rate was in which range of percentages?
A. 0-5% B. 10-15% C. 15-20% D. 5-10%