The government of Silverado raises revenue to operate the city's hospital, open to all residents, through a general income tax paid by its residents. This method of raising revenue is consistent with the benefits-received principle

Indicate whether the statement is true or false


TRUE

Economics

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Workers and firms are currently expecting the price level to increase from 110 to 114. The Federal Reserve then announces that it will be reducing the growth rate of the money supply

If the Fed's announcement is credible, and firms and workers have rational expectations, describe how the expectations of firms and workers will be affected and how the change in expectations will affect the unemployment rate.

Economics

The Great Depression tried and tested the Gold Standard and this standard met the challenge

Indicate whether the statement is true or false

Economics

The slope of the consumption function shows how: a. consumption changes over time. b. consumption changes as household size changes

c. consumption changes as the price level changes. d. income changes as the level of consumption changes. e. consumption changes as the level of income changes.

Economics

Fixed cost is sometimes called

a. total cost b. sunk cost c. variable cost d. marginal cost e. average total cost

Economics