The primary concern of the 1964 tax reform was _____
a. fiscal stabilization
b. macroeconomic policy
c. equity considerations
d. efficiency considerations
b
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If a firm can adjust its employment of all inputs, then it is
a. experiencing economies of scale. b. in the long run. c. off its expansion path. d. limited only by the capacity of its fixed capital.
As the dollar depreciates relative to the Russian ruble, U.S. goods become cheaper for Russians to purchase. Therefore, in the foreign exchange market, the
A) supply curve of dollars is downward sloping. B) demand curve for dollars is downward sloping. C) demand curve for euros is upward sloping. D) supply curve of euros is downward sloping.
Refer to above figure. With free trade and no tariffs, what is the quantity of Widgets produced domestically?
What will be an ideal response?
GDP during a period can be calculated by summing either
a. the purchases of domestically produced final goods and services or the cost incurred in the production of those goods. b. the amount received by business firms for consumer goods and services or the spending of business firms on investment goods and services. c. all household expenditures on final goods and services or all business purchases of factors of production. d. sales of goods and services to foreigners or the purchase of goods and services from foreigners