Most economists believe that property taxes
A. should be eliminated.
B. are progressive.
C. should become an important source of revenue for the federal government.
D. are regressive.
Answer: D
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The most basic cause of unemployment in the United States is that
A) the natural rate of unemployment is much higher than zero. B) we are most of the time producing a real GDP below the natural real GDP. C) we are suffering from low productivity growth. D) we are converting from a predominantly industrial to a predominantly service-based economy. E) policymakers are constantly trying to hold down inflation.
According to Scenario 4-1, country B is running a:
a. trade deficit with country A and a trade surplus with country C. b. trade surplus with both countries A and C. c. trade surplus with country A and a trade deficit with country C. d. trade deficit with both countries A and C. e. balanced trade with country A and a trade deficit with country C.
The nominal exchange rate is the:
A. rate at which two currencies can be traded for each other. B. quantity of foreign currency assets held by a government for the purpose of purchasing the domestic currency in the foreign exchange market. C. price of the average domestic good or service relative to the price of the average foreign good or service, when prices are expressed in terms of a common currency. D. market on which currencies of various nations are traded for one another.
Marginal costs reflect changes in variable costs.
Answer the following statement true (T) or false (F)