What would happen to the planned investment function if business taxes were increased?
A) It would shift to the right.
B) It would shift to the left.
C) It would shift upward.
D) There would be no change.
B
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What will be an ideal response?
U.S. exports are goods and services
A) produced abroad and sold to Americans. B) produced in the United States and sold to Americans. C) produced abroad and sold to foreigners. D) produced in the United States and sold to foreigners.
The consumer price index overestimates inflation because it
A. allows consumers to move along a given indifference curve from one year to the next. B. uses the second year's market basket as the base rather than the first year's basket. C. measures the cost of a market basket in the second year that has too many units of the most inflated items. D. compares prices of what consumers actually buy rather than a fixed basket of goods.
Which of the following is an example of government failure?
A. Inefficient incentives. B. Bureaucratic delays. C. Required use of pollution control technology that is obsolete. D. All of the choices are correct.