Your comparative advantage in a specific area is determined by
What will be an ideal response?
the market value of the skill relative to your opportunity cost of supplying it.
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The three major revenue sources for the federal government in order of decreasing percentages are individual income taxes, corporate taxes, and social security insurance
a. True b. False Indicate whether the statement is true or false
Which of the following factors has the most quantitative importance on the oversimplified multiplier formula?
a. it ignores variable imports b. it ignores price-level changes c. it ignores income taxes d. All of these equally affect the oversimplified multiplier formula
What are the factors that cause a producer's average cost per unit to fall as output rises called?
(A) Licenses (B) Franchises (C) Patents (D) Economies of scale
In the Keynesian theory, output and employment in the economy depend
A. directly on the level of total expenditures. B. inversely on the quantity of resources available to it. C. directly on the level of disposable income. D. directly on the rate of interest.