The roots of the Civil War (1861–1865) can be traced to the colonial period of U.S. history. The ratification of the 10th amendment of the U.S. Constitution brings all issues connected to the Civil War to an end
Indicate whether the statement is true or false
False
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One consequence of raising tax rates is that it
a. provides an added incentive to work b. provides less incentive to participate in the underground economy c. always increases total tax revenues d. leads to less underreporting of income e. leads to more underreporting of income
Speculative demand for money is a(n):
a. positive function of prices. b. inverse function of prices. c. positive function of interest rates. d. inverse function of interest rates. e. function of unexpected needs.
In the crowding-out effect, ______.
a. government purchases increase interest rates, which crowd out investment and consumer spending and shift the aggregate demand curve to the left b. higher interest rates increase investment and consumer spending, which crowd out government purchases and shift the aggregate demand curve to the left c. government purchases lower interest rates, which crowd out unemployment and inflation and shifts the aggregate demand curve to the right d. low interest rates lead to increased government spending, which is crowded out by investment and consumption spending and shifts the aggregate demand curve to the right
In the presence of large sunk costs, which of the following market structures generally leads to the highest price?
A. Cournot B. Stackelberg C. Bertrand D. Monopoly