A measurement in terms of current dollar value is called a(n) ________ quantity.
A. indexed
B. deflated
C. real
D. nominal
Answer: D
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A higher rate of saving should lead to
A) higher current consumption. B) less growth. C) more investment, higher capital growth, and more future consumption. D) a higher price level and reduced future consumption.
If the government wishes to raise revenue by taxing cigarettes, it
A. is best to tax the producer since they will not cut production just because of the tax. B. makes no difference whether the consumer or the producer actually transfers the money to the government since the market effects are the same. C. is best to have the consumers pay the tax since they view cigarettes as necessities. D. is foolish since a sales tax increase leads to less tax revenue in an industry like tobacco.
A. $4 or less. B. $3.90 or less. C. $3.50 or less. D. $3.40 or less
A. $1 or less. B. $.75 or less. C. $1.75 or less. D. $2 or less.
Psychological incentives:
A. are not important in non-economic settings. B. never serve as commitment devices. C. can serve as commitment devices. D. are not important in economic settings.