19)Which statement is true? -We have had recessions about every three years sinc

ID: 1161486 • Letter: 1

Question

19)Which statement is true?

-We have had recessions about every three years since World War II.

-The United States has a larger national output than any other country in the world.

-None of the statements are true.

-There were no recessions while Ronald Reagan was president.

21)The symbiotic relationship between mass production and mass consumption was best personified by

-John Deere.

-Andrew Carnegie.

-Henry Ford.

-John D. Rockefeller.

22)According to most economists,

-command-and-control regulations have about the same effectiveness as incentive-based regulations.

-incentive-based regulations work better than command-and-control regulations.

-command-and-control regulations work better than incentive-based regulations.

23)If quantity supplied is less at each price, we say that there has been

-a decrease in demand.

-an increase in supply.

-an increase in demand.

-a decrease in supply.

24)A public good is

-something whose consumption by one person does not prevent its consumption by other people.

-something that is good for a country, but not necessarily for private individuals.

-a good deed done by someone who refuses payment.

-something produced and sold by the government, for example, electricity provided by a government authority.

25)If market price is above equilibrium price,

-quantity supplied is greater than quantity demanded.

-quantity supplied is equal to quantity demanded.

-quantity demanded is greater than quantity supplied.

course Microeconomic

19) United States has larger national output than any other country in the world.

US has many recessions since world war 2. It also had faced recession when Ronald Reagan was president.

21) Henry Ford

Henry Ford best described the relationship between mass consumption and mass production.

22) incentive based regulation work better than control and conmand regulations.

According to economists incentive based regulations as it aims at improving technology and innovating cost effect methods of reducing pollution.

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.