The Great Depression provided significant evidence that
a. the economy always worked well on its own
b. the economy always reached full employment on its own
c. the economy may not always do well on its own
d. the notion of laissez faire was correct
e. the supporters of the classical model were correct
C
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To avoid the conflicts and suffering of a "zero-sum society," an economy must maintain a
A) positive rate of productivity growth. B) positive rate of inflation. C) foreign trade surplus D) government budget deficit.
Suppose that the consumer price index of a country was 160 at year-end 2007 and 168 at the end of 2008 . What was the country's inflation rate during 2008?
a. 5 percent b. 8 percent c. 60 percent d. 68 percent
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, if this were depicting an autarky, the amount being sold domestically is:
A. 115. B. 90. C. 60. D. 160.
Where a firm generates beneficial externalities, society would be better off if
A. the firm produced a larger output level. B. the firm reduced its output level. C. a tax was levied on the firm equal to the dollar amount of the externalities. D. price was reduced below marginal private cost.