High-income countries are also referred to as
A) agrarian countries. B) industrial countries.
C) developing countries. D) growing countries.
B
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In the figure below, label the axes and then draw a demand for money curve. Illustrate an increase in the demand for money
What will be an ideal response?
Which of the following statements about a circular flow model is false?
A) Producers are buyers in the factor market and sellers in the product market. B) Households are neither buyers nor sellers in the input market. C) Households are buyers in the product market. D) Producers are buyers in the factor market.
From the demand side, the equilibrium level of GDP is one at which
a. everyone who wants a job has one and firms are not looking for extra workers. b. the only unemployment is frictional. c. aggregate demand equals production. d. the only unemployment is cyclical.
Which of the following is a tax based on the benefits-received principle?
A. A property tax, if the revenue is used to finance public education. B. A tax added to the camping fee at national parks that is used to maintain and upgrade camping facilities at national parks. C. A tax on imports that is used to finance job retraining for workers who have lost their jobs because of the competition from imported products. D. A progressive income tax that is used to finance national defense.