Which of the following is a true statement about the length of recessions and expansions in the United States economy?
A) Prior to 1900, the length of expansions equaled the length of recessions.
B) Prior to 1900, the length of expansions were much less than the length of recessions.
C) Prior to 1900, the length of expansions were much longer than the length of recessions.
D) Prior to 1900, the length of recessions were brief and almost nonexistent.
Answer: A
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If the government establishes a price floor, it must also be prepared to
a. sell any additional goods created by the price floor b. create ration coupons to allocate the goods among consumers c. enter the market as an additional demander of the good d. handle the resulting excess demand e. create incentives for producers to remain in the market
In the United States in 2016, the percentage of people with some form of health insurance was about
A) 10%. B) 36%. C) 55%. D) 91%.