The law of increasing opportunity costs implies that a society's production possibilities curve will be a straight line
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
The balanced budget multiplier is based on the point that the ________ multiplier is larger than the ________ multiplier so that an equal increase in government expenditure and taxes ________ aggregate demand
A) tax; expenditure; does not change B) expenditure; tax; does not change C) expenditure; tax; decreases D) expenditure; tax; increases E) tax; expenditure; decreases
If Ann's disposable income increases, her saving decreases
Indicate whether the statement is true or false
The real business cycle model best explains the procyclicality of the nominal money supply by
A) an unpredictable Federal Reserve. B) exogenous money. C) endogenous money. D) uncorrelated money.
Which of the following exemplifies regressive taxation?
a. U.S. income tax b. U.S. payroll taxes for Social Security c. Ad valorem tax d. Corporate tax