Ad valorem taxation means
A. that the tax rate is a percentage of the price paid for a product.
B. a progressive property tax imposed in some states.
C. a negative income tax.
D. that only the value added by a service provider is taxed.
Answer: A
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Total factor productivity is
a. changes in amounts of factors of production b. changes in output due to changes in the amount of factors of production c. changes in output due to changes in productivity of factors of production d. changes in productivity of factors of production due to changes in other factors e. none of the above
If one dollar exchanges for 100 Japanese yen, then
a. a yen is worth $1 b. $10 will exchange for one yen c. a yen is worth $100 d. the United States gets 100 times the number of goods for its currency than does the yen e. one yen is worth a penny
Net capital outflow is the purchase of domestic assets by foreign residents minus the purchase of foreign assets by domestic residents
a. True b. False Indicate whether the statement is true or false
Keynes assumed consumption is
A) inversely related to the rate of interest. B) directly related to disposable income. C) directly related to investment. D) less than disposable income. E) both b and d