Which of the following statements regarding government spending is true?
Select one:
a. Government spending in the majority of industrial countries has decreased over the past 100 years.
b. Government spending in the majority of industrial countries has remain unchanged over the past 100 years.
c. Government spending in the majority of industrial countries has increased over the past 100 years.
d. Government spending in the majority of developing countries has increased over the past 100 years.
e. Government spending in the majority of developing countries has remained unchanged over the past 100 years.
During the 1990s, some countries lifted price ceiling on eggs,
Select one:
a. the demand for eggs in those countries increased.
b. the demand for eggs in those countries decreased.
c. the price of egg in those countries declined.
d. the price of egg in those countries remained constant.
e. the price of egg in those countries immediately went up.
In the 1990s, the Danish government passed laws tightening eligibility requirements for receiving unemployment benefits. What happened to Danish unemployment rates as a result of this policy change?
Select one:
a. The unemployment rate increased.
b. The unemployment rate decreased.
c. More teenagers entered the labor force.
d. More women entered the labor force.
e. The natural rate of unemployment increased.
If the U.S. dollar appreciated against the British pound, other things equal, we would expect
Select one:
a. the British demand for U.S. products to increase.
b. a reduction in trade between the United States and Britain.
c. the U.S. demand for British products to decrease.
d. the U.S. demand for British products to increase.
e. an increase in trade between the United States and Britain.
In monopoly,
Select one:
a. the number of firms is large.
b. there is ease of entry into the market and exit from the market.
c. the product has many good substitutes.
d. economic profits are zero in the long run.
e. None of these choices.
Steve is about to start up a business in a monopolistically competitive market. He can expect to find entry into the market to be ____, the number of competitors to be ____, and the product he sells to be ____.
Select one:
a. easy; very large; nondifferentiated
b. difficult; very large; differentiated
c. easy; relatively few; nondifferentiated
d. impossible; relatively few; differentiated
e. easy; large; differentiated
"When more than one government intervenes to move an exchange rate from a given market equilibrium," this is known as
Select one:
a. coactive intervention.
b. extrapolated intervention.
c. coordinated intervention.
d. expansionary intervention.
e. international intervention.
Between 1959 and 2002, household expenditures per year in the United States
Select one:
a. rose.
b. rose and then fell.
c. did not rise at all.
d. decreased slightly.
e. rose from $500 million to more than $4 billion.
Suppose that due to a new government study, consumer preferences for chicken suddenly increase. In the model of consumer theory, this would be represented by
Select one:
a. an increase in the total utility of chicken.
b. an increase in the individual demand curves for chicken.
c. an increase in the market demand curve for chicken.
d. an upward shift of the total utility schedule for chicken.
e. All of these choices.