Which of the following is not likely to occur because of exchange rate fluctuations?
A. An end to flexible exchange rates worldwide.
B. Inflation.
C. An increase in the demand for imports.
D. A decrease in the demand for exports.
Answer: A
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There is no reason to think poets can't someday become as rich as professional basketball players in the market process. It is most likely to happen if
A) the supply of poets increases substantially. B) the supply of poets decreases substantially. C) the cost of writing good poetry decreases substantially. D) poets are able to consistently sell out twenty-thousand-or-larger seat stadiums at thirty dollars (or more) per ticket.
Advocates of a progressive income tax use arguments EXCEPT for which of the following?
A) A progressive tax system taxes according to ability to pay. B) A progressive tax system taxes according to benefits received. C) A progressive tax system helps redistribute income away from the rich and towards the poor. D) A progressive tax system maximizes government revenues.
According to the classical dichotomy, when the money supply doubles which of the following doubles?
a. the price level and nominal GDP b. the price level and real GDP c. only real GDP d. only the price level
Grown children fawning over an elderly parent in order to try to secure a larger inheritance is an example of
A) rent seeking. B) logrolling. C) rational ignorance. D) public choice.