Which of the following had the highest rate of growth during the period 1948-72?
A) West Germany
B) Vietnam
C) Japan
D) The United States of America
C
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Refer to Table 21-1. Using the table above, what is the approximate growth rate of real GDP from 2015 to 2016?
A) 1% B) 2% C) 3% D) 4%
One part of the supply-side argument is that
A) lower marginal tax rates are required to induce Congress to reduce government spending. B) lower marginal tax rates can increase total tax revenues. C) the marginal tax rate should be set at 50 percent. D) the relevant aggregate supply curve is close to horizontal.
If people cannot find work and drop out of the labor force, they are classified as
A. employed. B. unemployed. C. as part of the institutionalized population. D. discouraged workers.
Suppose you are deciding whether to spend your tax rebate check on a new iPod or a new digital camera. You are dealing with the concept of
A. opportunity costs. B. comparative advantage. C. the fallacy of composition. D. equity.