Which of the following are sources of revenue for state and local governments?
i. property taxes
ii. sales taxes
iii. transfers from the federal government
A) i, ii and iii B) ii and iii C) i and ii D) i only E) i and iii
A
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Productivity growth in the service sector
a. is notoriously difficult to measure. b. is comparable to productivity growth in agriculture. c. has been slow compared with productivity growth in manufacturing. d. Both a and b are correct. e. Both a and c are correct.
Market economies have air and water pollution, but nonmarket economies
a. have much less pollution. b. have pollution that is much worse than in market economies. c. have about the same amount of pollution as market economies. d. don't generally suffer from external effects of any sort.
Assuming that full employment of labor is considered 5 percent unemployment, in 1998 and 1999, the United States economy operated ____________ the production possibilities frontier.
Fill in the blank(s) with the appropriate word(s).
Someone wants to open a new restaurant in town. Identify which of the following would be a barrier to entry.
a) None of the available property in town is zoned for business use. b) The price of tablecloths has risen. c) Consumers buy only from businesses they know. d) The town requires all businesses to pay a hefty annual permit fee. e) The town requires new businesses to pay a hefty permit fee.