Keynesians believe that the transactions demand for money influences the velocity of money
Indicate whether the statement is true or false
T
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A tax on consumption for those who are nonsavers
A. is equivalent to a tax on income. B. causes income gains to increase dramatically. C. would be preferred to a tax on wealth. D. makes it difficult to tell what the result for the nonsavers would be.
In the short run, if a perfectly competitive firm is producing at a price below average total cost, its economic profit is:
a. positive. b. zero. c. negative. d. normal.
A city in which 320,000 persons are employed has a labor force of 359,500 persons. The unemployment rate for the city is: a. 7.8 percent
b. 11.0 percent. c. 12.3 percent. d. 14.5 percent.
Which of the following helps explain low growth rates of many less developed countries?
a. Good law enforcement b. Political stability c. Low population growth rates d. Excellent legal systems e. Near-subsistence levels of per capita output