Tax avoidance reduces the federal government's revenue flow
a. True
b. False
A
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Suppose that people decide riding scooters is no longer fun. The equilibrium price of a scooter ________, and the equilibrium quantity of scooters ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases E) does not change; decreases
Cars produced by General Motors in Mexico would be included in U.S. Gross Domestic Product
a. True b. False Indicate whether the statement is true or false
Which factor receives the profit from production?
a. land b. labor c. capital d. entrepreneurship
The Japanese economy has been consistently weak throughout the 1990s. This has caused a slight deflation, illustrating the
A. negligible cost of eliminating inflation. B. very slow operation of the economy’s self-correcting mechanism. C. tendency of inflation to accelerate during recessions. D. rapidity with which inflation can be stopped.