If government officials are mainly interested in generating tax revenue, then they should tax goods for which demand is price inelastic.
Answer the following statement true (T) or false (F)
True
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A nation running a persistent balance of payments deficit while part of a fixed exchange rate system would have to __________ international reserves in an effort to prevent its currency from __________
A) amass; appreciating B) amass; depreciating C) pay out; appreciating D) pay out; depreciating
In terms of utility theory, "equilibrium" in the real world means that
a. households are consuming as much of every commodity as they would like b. households have spent their incomes in such a way that their overall satisfaction is maximized c. households have spent their incomes in such a way that their marginal utility is maximized d. households have spent their incomes in such a way that their marginal utility is zero for every product consumed e. households have spent their incomes in such a way that their total utility is zero
The natural rate of unemployment is closely associated with the short-run ups and downs of economic activity
a. True b. False Indicate whether the statement is true or false
Discrimination occurs when the marketplace offers different opportunities to similar individuals who differ only by
a. race. b. level of education. c. attitudes toward risk. d. All of the above are forms of discrimination.