The natural rate of unemployment is the estimated rate of unemployment that would prevail when ________ unemployment is zero
A) structural B) cyclical C) seasonal D) frictional
B
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"Reducing taxes increases incentives to work and save.". This view is typically associated with
a. Keynesian economics. b."Reagonomics.". c. Johnson's "Great Society" policies. d. the Carter administration.
Since the beginning of the millennium, the United States has witnessed closure of many Internet start-up companies. According to the model of perfect competition, these companies must have shut down in the short run because:
a. the price they were charging was too high to attract customers. b. the price they were charging was too low to provide sufficient revenues. c. they were not earning enough revenue to cover their total costs. d. they were not earning enough revenue to cover their total variable costs. e. they were not earning enough revenue to cover their total fixed costs.
If South Korea has an absolute advantage in the production of an item, it must also have a comparative advantage in the production of that item.
Answer the following statement true (T) or false (F)
Which is the most important source of tax revenue for local governments?
A. Property taxes B. Corporate income taxes C. Sales and excise taxes D. Personal income taxes