Which of the following defines the multiplier for a change in autonomous taxes?
A) -s/c
B) 1/s
C) 1/c
D) -c/s
D
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The government sector balance is equal to ________
A) net taxes minus government purchases of goods and services B) tariffs minus imports C) saving minus investment D) exports minus imports
One measure of the inflation rate is the
A) sum of the CPIs of adjacent years. B) percentage change in the CPI of adjacent years. C) percentage change in the Real GDP of adjacent years. D) GDP minus the Real GDP in a year.
Average fixed costs for a given level of output can be determined graphically by:
A. summing the marginal costs of any number of units of output and dividing the sum by that output. B. the vertical distance between TC and TVC. C. the vertical distance between AVC and MC. D. the vertical distance between ATC and AVC.
Society gains from a patent if the product would not otherwise be developed.
Answer the following statement true (T) or false (F)