Holding other factors constant, a decrease in the tax for producing cars causes
a. The supply curve to shift to the left, causing the prices of coffee to rise
b. The supply curve to shift to the right, causing the prices of coffee to rise
c. The supply curve to shift to the left, causing the prices of coffee to fall
d. The supply curve to shift to the right, causing the prices of coffee to fall
d
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With which country did the Debt Crisis of the early 1980s begin?
A) France B) Mexico C) Argentina D) Japan E) Germany
If Monica has a comparative advantage in baking and George has a comparative advantage in sewing, then
a. Monica must have an absolute advantage in baking b. Monica must have an absolute advantage in sewing c. George must have an absolute advantage in baking d. George must have an absolute advantage in sewing e. we can conclude nothing about absolute advantage
The Federal Reserve System has the power to: a. raise or lower federal income tax rates
b. balance the federal government budget. c. increase or decrease federal government spending. d. compete with commercial banks in making loans to business firms. e. buy and sell federal government securities.
Which of the following is an accurate statement about the underground economy?
a. It is given a penalty tax in addition to a standard tax. b. It can account for more than one-third of the GDP in developing countries. c. It often includes everyday activities, such as housework and gardening. d. It is reported to the U.S. government through official channels.