The equation of exchange is
A) an assumption that is not always true.
B) true in the short run but not always in the long run.
C) an accounting identity and therefore is always true.
D) a theory developed at the Federal Reserve.
C
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The Roomba 570 is a robotic vacuum cleaner made and sold by iRobot. It can vacuum 4 rooms on a single battery charge and it costs $2 of electricity to charge the Roomba
Lynn is a house cleaner and can vacuum 4 rooms in 1 hour with a traditional vacuum. Suppose you want the 4 rooms in your house vacuumed once a week for one year. Ignoring the cost of any electricity Lynn uses, what is the maximum Lynn could charge per hour for you to choose her over the Roomba? A) $10.23 per hour B) $20.45 per hour C) $8.27 per hour D) $16.54 per hour
All of the following are aspects of microeconomics EXCEPT
A) monopolies. B) a firm maximizing profit. C) a worker choosing one job over another. D) the average level of prices of all goods and services produced in a country in a year.
If a tax rate falls as a person's income rises, the tax is a
a. proportional tax b. progressive tax c. regressive tax d. a poll tax e. a head tax
One way that the government encourages the production of a good with positive externalities is to offer
A. an effluent fee. B. a subsidy. C. a market to pollute. D. a pollution tax.