Under socialism, which of the following industries would probably be owned by the government?
a. Steel. b. Electricity.
c. Agriculture. d. All of these.
d
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Starting from long-run equilibrium, the long-run impact of a war that raises government purchases, compared to the original equilibrium, is:
A. higher inflation and higher output. B. lower inflation and the same output. C. lower inflation and lower output. D. higher inflation and the same output.
The strengthening of the dollar between 1980 and 1985 contributed to a ________ in American competitiveness, putting pressure on the Fed to pursue a more ________ monetary policy
A) decrease; contractionary B) increase; expansionary C) increase; contractionary D) decrease; expansionary
Recall the Application about how a simultaneous increase in the gasoline tax and decrease in the income tax affect gasoline consumption to answer the following question(s).Recall the Application. If a tax on carbon that increases the price of gasoline is combined with a cut in income taxes to ensure that total tax revenue collected by the government does not change, then the carbon tax is:
A. revenue neutral. B. ineffective C. revenue enhancing. D. a flat tax.
If the demand curve is horizontal and the supply curve is vertical, shifts of the supply curve will lead to
A) changes in the equilibrium quantity only. B) changes in the equilibrium price only. C) changes in both the equilibrium price and quantity. D) changes in the quantity demanded only.