Taxes assessed on firms and employees on wages and salaries earned are called
A) dividend taxes.
B) payroll taxes.
C) corporate profits taxes.
D) earned income taxes.
Ans: B) payroll taxes.
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As the real interest rate rises, the quantity of loanable funds supplied ________ and the quantity of loanable funds demanded ________
A) does not change; does not change B) decreases; decreases C) increases; decreases D) increases; increases E) decreases; increases
Who said our economy "seems capable of remaining in a chronic condition of subnormal activity for a considerable period without any marked tendency either toward recovery or toward complete collapse"?
A. David Ricardo B. Jean Baptiste Say C. Wassily Leontief D. John Maynard Keynes
The downward slope of the production possibilities curve illustrates the:
A. Cost-Benefit Principle. B. Incentive Principle. C. Scarcity Principle. D. Principle of Comparative Advantage.
Refer to the graph shown. According to the graph, this monopolistically competitive industry is currently:
A. in long-run equilibrium, and so the number of firms will remain unchanged. B. in short-run equilibrium with economic profit equal to zero. C. not in long-run equilibrium, and we would expect some firms to exit this industry. D. not in long-run equilibrium, and we would expect more firms to enter this industry.