Refer to Figure 11.1. Assume the economy is in equilibrium at 1 = 0. Other things equal, a decrease in the growth rate of productivity will result in a movement from point ________ to point ________
A) A; B
B) B; A
C) A; C
D) A; D
B
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In economics, the factor of production "land" includes all of the following EXCEPT
A) animals, birds, and fish. B) energy. C) wild plants. D) oil. E) plastics.
A new financial innovation results in people switching their funds from checking deposits to savings accounts. The quantity of M1 ________ and the quantity of M2 ________
A) decreases; decreases B) increases; decreases C) decreases; does not change D) decreases; increases
In the above figure, the total cost curve is curve
A) A. B) B. C) C. D) none of the curves in the figure.
Explain the argument that consumption is the best tax base. Explain the argument that wealth is the best tax base. Explain the argument that income is the best tax base
In your opinion, which measure is the best tax base - consumption, income, or wealth? Why?