A head tax is
a. a tax in the form of a percentage of the value of the good taxed
b. a fixed tax in the form of cents or dollars per unit of the good
c. a sales tax applied to a foreign good
d. any tax levied on a good
e. the same as a poll tax
E
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
An advance in technology will
A) not shift the production function but will lead to a movement down along the production function. B) shift the production function downward. C) not shift the production function but will lead to a movement up along the production function. D) shift the production function upward.
Evidence suggests that financial deepening is of greatest benefit to ________
A) industries that are highly dependent on external sources of funds B) family-owned enterprises C) established firms, rather than new firms D) child workers
When a bank loan is repaid, the supply of money:
A. is constant, but its composition will have changed. B. is decreased. C. is increased. D. may either increase or decrease.