Using taxes to finance a war, rather than deficits,
A) leads to a greater future capital stock.
B) is generally not proposed by economists.
C) shares less of the burden of the war with future generations.
D) all of the above
E) none of the above
D
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In a market with positive externalities, the market equilibrium quantity will be less than the efficient equilibrium quantity
Indicate whether the statement is true or false
Suppose all firms have constant marginal costs that are the same for each firm in the short run. In this case, the market level supply curve is ________ and producer surplus equals ________:
A) perfectly inelastic, fixed costs B) perfectly inelastic, zero C) perfectly elastic, fixed costs D) perfectly elastic, zero
The income approach to measuring GDP includes:
a. compensation for employees, net interest, rent, net profits, and indirect business taxes and depreciation. b. compensation for employees, net interest, rent, corporate profit, and transfer payments. c. compensation for employees, net interest, rent, and indirect business taxes. d. compensation for employees, net interest, rent, corporate profits, and capital depreciation. e. compensation for employees, rent, corporate profits, proprietors' income, and transfer payments.
When the opportunity cost of producing carrots increases as more carrots are produced, then:
A. no more carrots will be produced. B. resources are equally suited to the production of carrots and to other goods. C. the production possibilities curve is a straight line. D. the law of increasing opportunity costs is present