Taxes levied on goods and services transported across political boundaries are referred to as:
A) service taxes.
B) tariffs.
C) value added taxes.
D) transport taxes.
B
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Both the demand for and supply of cars changes in France. You observe that the quantity of cars does not change but the price rises. Thus, which of the following occurred?
A) Demand increased and supply decreased by an equal amount. B) Demand and supply increased by an equal amount. C) Demand and supply decreased by an equal amount. D) Demand increased by a larger magnitude than supply decreased. E) Demand decreased and supply increased by an equal amount.
Suppose workers expect the inflation rate to be 3.6 percent and they receive a nominal wage increase of 7.5 percent. If the actual inflation rate turns out to be 2.8 percent, workers will receive a lower real wage than expected
a. True b. False Indicate whether the statement is true or false
If the federal funds rate were above the level the Federal Reserve had targeted, the Fed could move the rate back towards its target by
a. buying bonds. This buying would increase the money supply. b. buying bonds. This buying would reduce the money supply. c. selling bonds. This selling would increase the money supply. d. selling bonds. This selling would reduce the money supply.
Firms in the long run do not experience diminishing marginal returns. Then why do some industries have upward-sloping long-run supply curves?
What will be an ideal response?