If 1 dollar is equal to 5 Swedish kroner, the dollar price of a kroner is
A. $.20.
B. $1.20.
C. $.50.
D. $.05.
A. $.20.
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Which of the following best describes the policy of the New Deal to combat the Great Depression?
(a) Taxation should be increased so as to eliminate the deficit in the federal budget. (b) Government spending should be reduced so as to give businesses confidence that the free enterprise system was not being replaced by big government. (c) The government should offset deficiencies in private spending with increased government spending in order to create jobs—any jobs. (d) Private enterprise should be replaced by government planning because the market system had failed to provide prosperity and economic growth.
Bill currently uses his entire budget to purchase 5 cans of Pepsi and 3 hamburgers per week. The price of Pepsi is $1 per can, the price of a hamburger is $2, Bill's marginal utility from Pepsi is 4, and his marginal utility from hamburgers is 6
Bill could increase his utility by: A) increasing Pepsi consumption and reducing hamburger consumption. B) increasing hamburger consumption and reducing Pepsi consumption. C) maintaining his current consumption choices. D) We do not have enough information to answer this question.
Which of the following would be considered an example of structural policy?
A. An attempt to reduce the government budget deficit by reducing spending. B. Provision of additional cash to the banking system. C. A reduction in income tax rates. D. A decision by a developing country to reduce government control of the economy and to become more market-oriented.
Which of the following is an example of an indirect tax?
A. Value-added tax B. Income tax C. Inheritance tax D. Head tax