To measure GDP by using the income approach, we must add all incomes and then ________ depreciation and ________ net taxes less subsidies
A) add; neither add nor subtract
B) add; add
C) add; subtract
D) subtract; add
E) neither add nor subtract; add
B
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The two key objectives of the Fed are:
A) low and predictable levels of inflation, and interest rates above 10%. B) zero inflation, and zero unemployment. C) low and predictable levels of inflation, and maximum levels of employment. D) low and predictable levels of inflation, and zero unemployment.
Explain the difference between a regressive tax and a progressive tax
What will be an ideal response?
Use the above table. What will the price be when external costs are internalized with a tax?
A) $14 B) $13 C) $12.20 D) $1.80
A point outside the production possibilities curve [PPC]:
a. represents inefficient use of resources. b. represents the prevalence of unemployment. c. is attainable if all resources are used efficiently. d. represents more resources than are currently available. e. will never be attainable, even if the quantity of resources increases.