Q: Farm price supports are typically for a) basic commodities like
Farm price supports are typically for a) basic commodities like raw milk and grain. b) fruits and vegetables. c) refined products like flour. d) manufactured products like breakfast cereals.
See AnswerQ: Income inequality as conventionally measured is ____ when you ignore the decreases
Income inequality as conventionally measured is ____ when you ignore the decreases in the capital gains tax rate. a) overstated b) understated c) property stated
See AnswerQ: One of the concerns about monopolies is that they a)
One of the concerns about monopolies is that they a) reduce the motivation to innovate. b) reduce the motivation to make a profit. c) hire people at an excessive level. d) waste resources in pursu...
See AnswerQ: The destruction of the World Trade Center and damage to the Pentagon
The destruction of the World Trade Center and damage to the Pentagon and the accompanying work to rebuild and repair led to _____ to the insurance companies and _____ in GDP. gains; gains losses; loss...
See AnswerQ: Economists generally believe that a new casino in a city that already
Economists generally believe that a new casino in a city that already has them would likely have _________ economic impact. a) an enormously negative b) a modestly negative c) an enormously positi...
See AnswerQ: An increase in the expected inflation rate in one country will
An increase in the expected inflation rate in one country will a) strengthen its currency. b) weaken its currency. c) have no impact on the exchange rate between its currency and other currencies....
See AnswerQ: The impact of a new Walmart on a community’s workers is
The impact of a new Walmart on a community’s workers is a) only positive in that new jobs are created. b) only negative because better-paying jobs at competitors are lost. c) positive and negativ...
See AnswerQ: When there are many employers in a city and one union,
When there are many employers in a city and one union, the model that economists use is one for a) monopoly. b) monopsony. c) perfect competition. d) monopolistic competition.
See AnswerQ: A stock index is a) essentially the weighted sum of
A stock index is a) essentially the weighted sum of stock prices. b) the simple sum of stock prices. c) the geometric average of stock prices. d) the consensus view of professional economists.
See AnswerQ: Most baseball franchises have _____ over the years while the sale price
Most baseball franchises have _____ over the years while the sale price of the typical team has ______. a) made a profit; fallen b) lost money; fallen c) made a profit; risen d) lost money; risen...
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