Which is essential to economic growth, whether in Latin America, sub-Saharan Africa, Asia, Europe, or North America?
A) Limits on the use of non-renewable resources
B) International aid
C) The rule of law
D) An effective system of trade tariffs and quotas
E) The evolution of a single world currency
C
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________ decreases a firm's capital stock, and ________ increases its capital stock
A) Saving; depreciation B) Depreciation; investment C) Time; depreciation D) Saving; investment E) Investment; saving
Tax incidence is the actual division of the
A) tax revenues between the federal government and state governments. B) population into different tax brackets. C) burden of the tax between buyers and sellers in a market. D) tax revenues between government agencies.
Market activity that goes unreported either to avoid taxes or because the activity is illegal is called:
a. special-interest activity. b. rent seeking. c. the underground economy. d. pork-barreling.
After a hurricane in Florida knocked out the regional water supply for several days, the demand for bottled water increased sharply. In a market economy, how will this increase in demand affect the equilibrium price and quantity of bottled water?
A. Price will increase, and quantity will decrease. B. Price will decrease, and quantity will decrease. C. Price will decrease, and quantity will increase. D. Price will increase, and quantity will increase.