A fixed exchange rate is one that is determined by market conditions
Indicate whether the statement is true or false
F
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Progressive income tax structures are based on interpersonal comparisons of burden
Indicate whether the statement is true or false
The profitability of an investment project will increase if
a. tax rates increase. b. real interest rates increase. c. real interest rates decrease. d. business tax deductions decrease.
Owen and Simon both like playing with balls and cars. Suppose B represents the number of balls, and C represents the number of cars. If Owen's utility function can be given by U(B, C) = 10B + 5C, and Simon's utility function can be given by U(B, C) = 6B + 6C, which of the following trades would benefit Simon but not Owen?
A. Owen gives Simon 3 cars in exchange for 2 balls B. Owen gives Simon 2 cars in exchange for 3 balls C. Owen gives Simon 3 balls in exchange for 2 cars D. Owen gives Simon 2 balls in exchange for 3 cars
A decrease (leftward shift) in the supply for a good will tend to cause
a. an increase in the equilibrium price and quantity b. a decrease in the equilibrium price and quantity c. an increase in the equilibrium price and a decrease in the equilibrium quantity d. a decrease in the equilibrium price and an increase in the equilibrium quantity e. none of the above.