One advantage of a consumption tax is that there are fewer problems with inflation.
A. True
B. False
C. Uncertain
A. True
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The table above gives the number of people employed and the number of people unemployed in Canada, Japan, and the United States on the average during 1999
In 1999, the unemployment rate in ________ was the highest and the unemployment rate in ________ was the lowest. A) the United States; Japan B) Canada; the United States C) Japan; Canada D) Canada; Japan E) Japan; the United States
Perfectly elastic demand is represented by a demand curve that
A) is vertical. B) is horizontal. C) has a 45° slope. D) is a rectangular hyperbola.
Unions support minimum wage laws, because
A) union workers are typically paid the minimum wage. B) an increase in the minimum wage paid to low-skilled labor increases the opportunity cost of employing high-skilled union labor and, hence, increases the demand for union labor. C) an increase in the minimum wage paid to low-skilled labor increases the opportunity cost of employing low-skilled labor and, hence, increases the demand for union labor. D) an increase in the minimum wage paid to low-skilled labor causes the supply curve of low-skilled labor to shift leftward and, hence, increases the demand for union labor.
Assume the asset market is always in equilibrium. Therefore a fall in Y would result in
A) higher inflation abroad. B) a decreased demand for domestic products. C) a contraction of the money supply. D) a depreciation of the home currency. E) an appreciation of the home currency.