Risky transactions are those in which:
A. complete information is not available.
B. there is an balance of information between buyer and seller.
C. one party to a transaction uses the other party's lack of information to their advantage.
D. one party withholds information from the other party and uses that to his advantage.
A. complete information is not available.
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A tax on candy will be paid by ______
A. only buyers if the demand for candy is inelastic B. only sellers if the supply for candy is inelastic C. buyers and sellers if the demand for candy is elastic D. only buyers if the supply of candy is elastic
A significant example of a temporary tax cut was the one announced in 1992 by President George H. W. Bush. The effect of that tax cut on consumer spending and aggregate demand was
a. zero. b. likely smaller than if the cut had been permanent. c. likely about the same as if the cut had been permanent. d. likely larger than if the cut had been permanent.
Refer to the figure above. For an economy starting from the potential output a decrease in planned investment in the short run results in a
A. Recessionary output gap B. Expansionary output gap C. Increase in potential output D. Decrease in potential output
Suppose that the technology used to manufacture laptops has improved. The likely result would be:
A. an increase in quantity supplied of laptops. B. a decrease in quantity supplied of laptops. C. a decrease in supply of laptops. D. an increase in supply of laptops.