Which of the following best explains the R&E Tax Credit?
a. Private firms’ taxes are reduced based on their R&D activities.
b. Private firms receive government grants for R&D investments.
c. Universities that engage in R&D receive additional tax breaks.
d. Citizens receive government grants for developing new technologies.
a. Private firms’ taxes are reduced based on their R&D activities.
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Which of the following lowers frictional unemployment?
A) more young people in the economy B) decreasing unemployment benefits C) increasing the pace of technological change D) increasing the minimum wage E) None of the above answers are correct because all of the answers raise frictional unemployment.
In an oligopolistic market, each firm
A. has a constant marginal cost. B. must consider the reaction of rival firms when making a pricing or output decision. C. faces a perfectly elastic demand function. D. produces at minimum average cost in the long run.
Anne works as a babysitter. She uses her wage as a babysitter to buy a pair of roller skates. In this case, money served the function of ________
A) a medium of exchange B) a unit of account C) a store of value D) a means of deferred payment