A problem in identifying poverty is that the concept of what constitutes a basic need is always changing
Indicate whether the statement is true or false
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Reducing the marginal tax rate on income will
A) raise the return to entrepreneurship and encourage the opening of new businesses. B) increase the after-tax return on saving, and encourage saving. C) reduce the tax wedge faced by workers and increase labor supplied. D) All of the above are correct.
How might the globalization of financial markets affect the role of financial frictions in business fluctuations?
What will be an ideal response?
By definition, a firm that practices satisficing
A. maximizes its sales, not its profits. B. makes acceptable decisions, though not necessarily optimal ones. C. satisfies government guidelines instead of consumer demands. D. minimizes the cost of gathering enough information to make an optimal decision.
The GDP deflator does not differ from the CPI in its measurement of inflation in that it:
A. measures the price changes of all goods, not just those in a typical consumer's basket. B. uses the total quantities that are produced, not the ratio of what a typical consumer might consume. C. does not include imports, which may have a real effect on the typical consumer's cost of living. D. is the most widely used measure of price level changes for goods and services for consumers.