Which state has a value-added tax?
a. Ohio
b. Texas
c. New York
d. Michigan
d
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Every day, ________ changes to make the quantity of money demanded equal the quantity of money supplied
A) real GDP B) the money supply C) the inflation rate D) the nominal interest rate E) the price level
Marginal benefit is the benefit that a person receives from consuming
A) a good or service until the person has grown tired of it. B) only goods and services that are free. C) one more unit of a good or service. D) all of the possible units of a good or service that can be consumed. E) one more unit of a good and is equal to the cost of producing the unit of the good.
When we graph consumption as a function of ________ rather than as a function of disposable income, the slope of this consumption function is ________
A) national income; the MPS B) personal income; the MPS C) personal income; (MPC - MPS) D) national income; the MPC
If international trade is restricted by the government of a country:
a. the domestic consumers are benefited. b. the domestic producers are adversely affected. c. the domestic consumers pay higher prices for imported goods. d. the resources are equally distributed among domestic and foreign producers. e. the resources are allocated to their highest paid uses.