Taxes in the United States as a percentage of GDP are among the highest in the world
a. True
b. False
Indicate whether the statement is true or false
False
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According to this Application, the Fed responded to the financial crisis by continuing to develop new programs. One example of this was its announcement that it would now purchase commercial paper, which is the short-term debt of corporations
This is an example of the Fed acting as a A) unit of account. B) store of value. C) medium of exchange. D) lender of last resort.
The tables above show the marginal costs and benefits from production of paper. The efficient level of output is ________ of paper
A) 1,600 tons B) 2,400 tons C) 3,200 tons D) 4,000 tons
A temporary beneficial productivity shock would
A) shift the labor supply curve down and to the right. B) increase the level of employment. C) increase future income. D) increase the expected future marginal product of capital.
Why does the industry short-run supply curve slope upward?
What will be an ideal response?