The tax base of the value added tax and a turnover tax are the same
a. True b. False
b
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The RBC approach has workers allocating their labor effort over blocks of time, with periods of intense activity when wages are high alternating with slack periods of vacation and leisure
This makes the labor supply curve rather ________, with unemployment an entirely ________ phenomenon. A) steep, voluntary B) steep, involuntary C) flat, voluntary D) flat, involuntary
At the twenty-fifth anniversary of the Woodstock Festival in 1994, there were many vendors who sold tie-dyed t-shirts. No matter where one went, each vendor was selling these t-shirts for $15 a piece. Which market structure model would best characterize such a situation?
a. Perfect competition b. Monopolistic competition c. Monopoly d. Oligopoly e. Monopsony
Which of the following is a substitute way of describing what economists mean by the concept of utility?
a. money b. displeasure c. satisfaction d. action e. practicality
When the exchange rate is determined by market forces and an economy is experiencing a net inflow of capital, the economy will tend to
a. run a budget deficit. b. run a trade deficit. c. experience an increase in the supply of money. d. experience a reduction in the supply of money.