Which of the following is NOT a deficit item on a country's balance of payments?
A. gold sales to foreigners
B. a personal gift to a foreign individual
C. imports
D. none of these
Answer: D
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Assume that instead of having a federal income tax, the federal taxes are levied as a consumption tax based upon a flat rate of 10 percent of all that you consume
How would this tax be different from an income tax? Would you expect this tax to be progressive, proportional, or regressive? What do you think would happen to the amount that people save under such a tax scheme? Explain your answers.
Which is a plausible cause of the movement in Figure 13.1 from point 1 to point 2?
A) a change in expectations that causes a decline in the real interest rate for investments B) a decrease in expected inflation C) the economy's self-correcting mechanism D) the central bank achieves a negative value for the nominal interest rate E) none of the above
In the classical model, the factors determining output and employment are the factors that ascertain the position(s) of
a. the labor supply curve only. b. the labor demand curve only. c. the aggregate production function. d. both the labor supply curve and the labor demand curve. e. Both c and d
Carlos has been invited to go skiing for the afternoon with his friends. It will cost $40 for a lift ticket. It is likely Carlos will:
A. overvalue the benefit of skiing. B. undervalue the opportunity cost of his afternoon. C. find it difficult to place a value on what he might do instead of skiing. D. All of these are true.