Decreases in the value of existing assets are called:
A. capital losses.
B. investment.
C. capital gains.
D. saving.
Answer: A
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The government proposes a tax on imported champagne. Buyers will bear the entire burden of the tax if the
A) demand curve for imported champagne is horizontal. B) demand curve is downward sloping and the supply curve is upward sloping. C) demand curve for imported champagne is vertical. D) supply curve for imported champagne is vertical.
A sales tax is a type of consumption tax
a. True b. False
When the difference between potential GDP and actual GDP increases, the nation usually suffers from increased inflation.
Answer the following statement true (T) or false (F)
Answer the following statements true (T) or false (F)
1) Cost-push inflation increases real output and employment. 2) Proponents of zero inflation argue that even mild inflation (1 to 3 percent) reduces the economy's real output. 3) Economists who are willing to accept mild inflation consider it to be a necessary by-product of high and growing spending that produces high levels of output, full employment, and economic growth. 4) Demand-pull inflation is usually accompanied by low unemployment and higher real output.