An increase in tax rates on a product will raise more revenue, the more inelastic is the demand curve
a. True
b. False
Indicate whether the statement is true or false
True
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The concept of net domestic investment refers to ________.
A. the difference between the market value and book value of outstanding capital stock B. the amount of machinery and equipment used up in producing the GDP in a specific year C. gross domestic investment less net exports D. total investment less the amount of investment goods used up in producing the year's output
Next period's capital is equal to current-period investment
A) plus the amount of current capital left over after depreciation. B) minus the amount of current capital left over after depreciation. C) plus the amount of current period depreciation. D) minus the amount of current period depreciation.
Which of the following is not a factor of production?
A.) Land. B.) Wages. C.) Labor. D.) Capital.
The national debt is:
A. the difference between a nation's exports and imports of goods and services. B. the sum of the personal debt of all citizens in the United States. C. the cumulative effect of all past budget deficits and surpluses of the federal government. D. equal to the current size of the budget deficit.