In order for a price floor to have an impact on a market it must be set above the equilibrium price
Indicate whether the statement is true or false
True
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A sales tax on sellers of a good shifts the supply curve leftward because the tax is like a cost of production
Indicate whether the statement is true or false
The Internet was first developed in the
a. business sector. b. government sector. c. corporate sector. d. college dorm room of Bill Gates.
What do economists mean by "per capita GDP"?
The value of a country's production at current market prices. The value of a country's production adjusted for inflation. The value of a country's production divided by the country's population. The value of all paid and unpaid work in the country.
During an economic downturn, Keynes argued that firms would have ________ to increase spending because ________.
A. no incentive; interest rates would be too high. B. no incentive; they already had enough capacity to meet demand. C. a strong incentive; interest rates would be too high. D. a strong incentive; they wouldn't have enough capacity to meet demand.