Local governments receive around _____ of their total revenue from intergovernmental transfers
a. fifteen percent
b. twenty-five percent
c. thirty-five percent
d. forty-five percent
c
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Explain the concept of the circular flow
What will be an ideal response?
Uncertainty about inflation: a. shifts the attention of business managers away from exchange rate movements and toward concerns about productivity. b. reduces the difficulty of making international business decisions
c. make suppliers link the selling prices of their goods to the overall inflation rate. d. undermines money's importance as a link between the present and the future. e. makes contracts easier to negotiate.
The conundrum between valuable water and a relatively unusable diamond is explained by the
a) Paradox of life. b) Paradox of count. c) Paradox of utility. d) Paradox of value.
Which of the following statements concerning the supply of labor is true?
A. The wage rate has no effect on the quantity of labor supplied. B. The labor supply curve is downward sloping. C. The supply of labor is determined by the prevailing wage rate. D. The typical labor supply curve is upward sloping.