Most economic historians believe that:
A. the gold standard didn't play a major role in the Great Depression.
B. countries that held on to the gold standard recovered from the Great Depression the quickest.
C. the gold flows played a central role in spreading the Great Depression.
D. if more countries would have been on the gold standard the Great Depression would have been averted.
Answer: C
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A newspaper article in commenting on the local electric monopoly tells its readers that the company's dominant economic position as a monopolist allows it to produce whatever output level it desires and to set whatever price it wishes
Critically evaluate this position.
If we were to compare the hourly earnings of union and nonunion workers in recent years, we would find that
A) unions have not succeeded in raising the hourly incomes of their members above nonunion members. B) unions have succeeded in raising the hourly incomes of their members above nonunion members. C) state government unionized employees have earned less in hourly wages than nonunion government employee. D) union members have increased their hourly incomes, but are still below the hourly incomes of nonunion members.
Between 2006 and 2008 the poverty rate
A. rose by about one percent. B. fell by about one percent. C. rose by around three percent. D. fell by about three percent.
Which of the following is NOT an example of a way in which microeconomic analysis can help in designing environmental policy?
A. Examining the trade-offs between ecological benefits of environmental legislation and its impacts on consumers' standard of living B. Lobbying consumers and firms to reduce consumption of energy C. Designing laws to provide incentives for firms to implement clean technologies in new vehicles D. Determining the optimal level of vehicle fuel efficiency standards