In order to promote growth through increased quantities of physical capital, governments must promote:
A. a better educational system.
B. job training programs.
C. funding for basic science.
D. high rates of saving and investing.
Answer: D
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This president made the campaign promise: "Read my lips: no new taxes." ______________.
Fill in the blank(s) with the appropriate word(s).
Price discrimination by a monopolist is less effective if the
A) good can be resold. B) good has no substitutes. C) monopolist can identify buyers by willingness to pay. D) good cannot be resold.
For a demand curve to be upward sloping, the good would have to be an inferior good, and
A) the income effect would have to be smaller than the substitution effect. B) the income effect would have to be larger than the substitution effect. C) the income effect would have to be equal to the substitution effect. D) the income effect and the substitution effect would have to be nonexistent.
Tariff accounts for 32% of the total government revenue in the U.K. and only 1.2% in India
a. True b. False Indicate whether the statement is true or false