Invention alone does not explain why free-market societies have experienced such rapid rates of economic growth.
Answer the following statement true (T) or false (F)
True
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The income-expenditure multiplier is the effect of a one-unit increase in:
A. after-tax disposable income on consumption. B. expenditure on potential output. C. after-tax disposable income on short-run equilibrium output. D. expenditure on short-run equilibrium output.
Refer to the scenario above. Which of the following will happen if her husband quits his job to look after their son instead of Sarah?
A) The country's GDP will remain unchanged. B) The country's GDP will increase. C) The country's trade deficit will increase. D) The country's trade surplus will increase. Mike's housekeeper charges $30 for mowing his lawn.
The price of a basket of goods is $2000 in the U.S. If purchasing-power parity holds, and the dollar buys two units of some country's currency, then how many units of foreign currency does the same basket of goods cost in that country?
a. 4000 b. 2000 c. 1000 d. None of the above are correct.
An average tax rate of 1% on the poor and 20% on the rich would be
A. progressive. B. proportional. C. regressive.