With higher future taxes
A) current consumption declines.
B) current consumption stays the same.
C) current consumption increases.
D) current consumption depends on other factors.
A
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A basic principle of economics is that a country's standard of living depends on its
a. quantity of physical capital. b. abundance of natural resources. c. ability to produce goods and services. d. ability to thrive economically without having to interact with other countries.
Under the Bretton Woods exchange rate system, the U.S. government agreed to buy or sell gold at a fixed price of ________ per ounce
A) $1 B) $35 C) $100 D) $400
The special privileges and obligations of corporations are defined by law.
Answer the following statement true (T) or false (F)
In the long-run, monopolistically competitive firms:
A. charge prices equal to marginal cost. B. have excess capacity. C. produce at the minimum of average total cost. D. both B and C are true.