Macroeconomic forces are a powerful explanation for changes in the size of the poverty population
Indicate whether the statement is true or false
T
You might also like to view...
Which industry was first covered by a free trade agreement between Canada and the United States?
What will be an ideal response?
Assuming that we can properly measure ability to pay, how do we use the principle of vertical equity to determine how much someone with greater ability to pay should pay in taxes?
a. By integrating it with the principle of horizontal equity. b. Through reference to the benefit principle. c. By looking at elasticities of demand for various income quintiles for the good in question. d. We cannot use the principle of vertical equity to answer this question.
If a potato farmer expands output, he finds that the increase in total revenue is less than the increase in total costs. This means that:
a. profit is being maximized. b. he should not have expanded output. c. he should produce even more output. d. the firm is wasting resources. e. the farmer should go out of business.
Measured as a share of the economy, the size of the trade sector (exports plus imports) of the United States has
a. been increasing since 1980, but it declined during 1960-1980. b. been relatively constant during the last four decades. c. increased by about 10 percent during the last four decades. d. approximately doubled since 1980 and tripled since 1960.