Which continent best illustrates LDCs?
a. Australia
b. South America
c. North America
d. Antarctica
e. Europe
B
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Keynes believed that the way to prevent recessions and depressions was to
A) increase aggregate demand through expansionary fiscal policy. B) maximize the crowding out effect. C) only change tax rates as a means of regulating the economy. D) reduce spending when there is a recessionary ga
A fall in the price of flour, used in making cakes, is likely to:
A) increase the supply of cakes. B) decrease the quantity supplied of cakes. C) increase the quantity supplied of cakes. D) decrease the supply of cakes.
Who benefits from an import quota on a good?
A) domestic consumers of the good B) foreign governments C) domestic producers of the good D) foreign producers of the good
The general tax can be considered a retail sales tax.
A. True B. False C. Uncertain