K - 12 public education in the U.S. is paid for mainly by the _____ tax.
A. income
B. sales
C. excise
D. property
D. property
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In the short run, there are large and persistent deviations between actual exchange rates and exchange rates predicted using purchasing power parity because of:
a. Discretionary monetary policy. b. Discretionary fiscal policy. c. Widely different inflation rates in the two nations. d. Very different real GDP growth rates in the two nations. e. Many goods and services in the two nations' price indices are not traded internationally.
If an allocation of resources is efficient, then
a. consumer surplus is maximized. b. producer surplus is maximized. c. all potential gains from trade among buyers are sellers are being realized. d. the allocation achieves equality as well.
Jay Sorensen, who invented the Java Jacket, earned profits as
A. a risk taker. B. an innovator. C. both a risk taker and an innovator. D. neither a risk taker nor an innovator.
In a particular year, if the price level rises by 4 percent and the nominal wage of workers rises by 6 percent, we can conclude that the real wage has:
What will be an ideal response?