The idea that people change their behavior in response to taxes is
A. highly controversial among economists.
B. accepted by economists, but debated by those in Congress.
C. uncontroversial among economists.
D. None of these statements is true.
C. uncontroversial among economists.
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Unlike the New York Stock Exchange, NASDAQ is an electronic stock market with trades executed through a sophisticated computer and telecommunications network.
Answer the following statement true (T) or false (F)
Which of the following statements best describes firms under monopolistic competition?
a. There is little price or quality competition. b. The firms compete, using quality, location, advertising, and price. c. Firms do not compete using advertising. d. There is little competition between firms.
In an economy without government or trade, it must be true that:
A. savings equals investment. B. consumption plus investment equal national savings. C. consumption plus savings equal investment. D. consumption equals savings plus investment.
Which of the following is FALSE about the transition from communism to capitalism in Russia and China?
A) China chose a dual track strategy. B) China's transition strategy was considered gradualist. C) Russia's transition was aided by the large number of workers it had in heavy industry. D) China's transition was aided by the large number of workers it had in rural agriculture.