Between 1965 and 1972, eight major pieces of consumer-protection legislation were enacted. This burst of legislative activity was largely driven by
a. increased public fears following the thalidomide tragedy.
b. public outcry following a series of steamboat explosions.
c. a general lack of faith in the market.
d. widespread support for the "Reagan Revolution.".
c. a general lack of faith in the market.
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If buyers' tastes and preferences shift in favor of a good, the result is
a. an increase in quantity demanded b. an increase in demand c. an increase in quantity demanded and an increase in supply d. a decline in supply e. an increase in supply
If all the countries used one common currency, we could expect that exports and imports would
a. decrease because international trade would be less needed b. decrease because each country would be producing more output c. increase because exchange rate uncertainty would be eliminated d. increase because many small countries would benefit most e. not change because trading of goods is independent of currency