On the Heritage Foundation's scale of "Economic Freedom," which of the following factors contribute to "Economic Freedom"?
A. high tariffs to protect domestic jobs
B. a vibrant labor union movement
C. a guaranteed minimum wage
D. a legal system conducive to business
Answer: D
You might also like to view...
Which of the following is not true for the U.S. payroll tax?
A. The incidence falls mainly on employees. B. It is levied on employers. C. It is levied on employees. D. The incidence falls mainly on employers.
The above table gives the demand schedule for Billy Bob's BBQ ribs. If the price of a pound of ribs falls from $3 per pound to $1 per pound, what is the change in Billy Bob's total revenue?
A) $42 B) $24 C) -$2 D) -$24
Suppose the economy currently has an inflationary gap. The Fed engages in contractionary monetary policy. The impact of contractionary monetary policy will be to
A) increase short-run aggregate supply, decrease in prices and decrease in real GDP. B) increase short-run aggregate supply, decrease prices and increase real GDP. C) decrease aggregate demand, decrease prices, and increase real GDP. D) decrease aggregate demand, decrease prices, and decrease real GDP.
After the terrorist attacks on September 11, 2001, governments within the United States raised expenditures to increase security at airports. These purchases of goods and services are
a. not included in GDP since they do not represent production. b. not included in GDP since the government collects taxes to pay for them. c. included in GDP since government expenditures on goods and services are included in GDP. d. included in GDP only to the extent that the federal government, rather than state or local governments, paid for them.