According to economic reasoning, you should offer one hour of volunteer service per week when
What will be an ideal response?
the additional benefits of doing so are greater than the additional costs.
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If two firms use a tit-for-tat scheme to maintain cartel pricing, and one firm chooses a low price in the current time period, then:
A. that firm will also choose a low price in the next time period. B. that firm will also choose a high price in the next time period. C. the other firm will choose a low price in the next time period. D. the other firm will choose a high price in the next time period.
Why is the U.S. putting less emphasis on multilateral and more emphasis on bilateral trade agreements?
What will be an ideal response?
Assume that there is a proposed tax cut by the U.S. House of Representatives. A problem is
a. how to distribute the benefits of the total tax cut among different groups within the country. b. that the process occurs very quickly without much time to study any negative effects. c. that tax cuts are harder to implement than tax increases. d. that the Federal Reserve has almost invariably been in favor of moderate tax increases rather than tax cuts. e. this statement is wrong, as tax bills originate in the U.S. Senate.
Which of the following sets of variables represent Injections into the Circular flow of Income?
(a) Investment, imports, savings and subsidies. (b) Savings, taxes, government expenditure and imports. (c) Government expenditure, taxes, exports and investment. (d) None of the above.