Refer to the information provided in Figure 23.9 below to answer the question(s) that follow.
Figure 23.9Refer to Figure 23.9. Equilibrium output equals
A. 100.
B. 150.
C. 200.
D. 300.
Answer: C
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Students who talk loudly with each other in class
A) create an externality because other students cannot follow the lecture as well. B) disturb nobody. C) benefit the other students in class because they engage in conversation. D) only create an externality if they talk about something unrelated to class.
Supply-side economists encourage government to reduce taxes, deregulate, and increase spending on research and development because they think that these types of policies lead to greater long-run economic growth
a. True b. False Indicate whether the statement is true or false
In which of the following tax systems do taxes increase as income increases?
a. both proportional and progressive b. proportional but not progressive c. progressive but not proportional d. neither proportional nor progressive
Real GDP is found by dividing:
A) Nominal GDP by the producer price index. B) Nominal GDP by the consumer price index. C) Nominal GDP by the prices paid index by farmers. D) None of the above.