What type of government policy involves raising or lowering taxes, and increasing or decreasing government spending?
A. Disciplinary
B. Monetary
C. Fiscal
D. Social
C. Fiscal
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There are circumstances under which the corporation tax is equivalent to an economic profits tax.
A. True B. False C. Uncertain
If the U.S. purchases oil from Nigeria, what is the effect in the foreign exchange market?
a. It will increase demand for U.S. dollars. b. It will decrease demand for U.S. dollars. c. It will increase supply of U.S. dollars. d. It will decrease supply of U.S. dollars.
The following table provides nominal exchange rates for the U.S. dollar.CountryForeign currency/dollarDollar/foreign currencyPoland (zloty)4.3670.229South Africa (rand)6.9440.144 Based on these data, the nominal exchange rate equals approximately ________ zloty per South African rand or, equivalently, ________ rand per Polish zloty.
A. 0.021; 47.640 B. 0.629; 1.590 C. 47.640; 0.021 D. 1.590; 0.629
Economic profit is always
A) greater than accounting profit. B) equal to accounting profit. C) less than accounting profit. D) equally likely to be either greater or less than accounting profit.