The tax cuts of 2008 were valued at approximately one percent of GDP.
Answer the following statement true (T) or false (F)
True
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Kaitlyn and Larissa have formed a dog bathing and grooming business business. The number of dogs they can bathe or groom in any given day is depicted in Table 2.1. The opportunity cost of grooming the sixth dog in a day is bathing ________ dog(s)
A) 0 B) 5 C) 6 D) 7
Firms in perfectly competitive industries are unable to control the prices of the products they sell and earn a profit in the long run. Which of the following is one reason for this?
A) Firms from other countries are able to produce similar products at lower costs. B) Firms in perfectly competitive industries can use advertising in the short run to persuade consumers that their products are better than those of other firms. But eventually consumers realize that all of the firms sell virtually identical products. C) Firms in these industries sell identical products. D) Owners of perfectly competitive firms realize that their short-run profits are temporary. Therefore, they either sell their businesses or develop other products that will earn short-run profits.
Analyze the following statement: "I know the fact that prices have started to rise rapidly seems like bad news, but at least prices starting to go up means that output must be starting to go up as well."
What will be an ideal response?
Which of the following transactions would be excluded in the capital account?
a. A Japanese citizen purchases a U.S. Treasury bill. b. A Japanese citizen purchases an office building in Manhattan. c. A U.S. citizen purchases a share of stock from a Japanese company. d. An American purchases a Toyota.