Stocks are
A) promises to repay loans.
B) a liability of a proprietorship.
C) a liability of a corporation.
D) shares of ownership in a corporation.
D
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A tax that imposes a small excess burden relative to the tax revenue that it raises is
A) an efficient tax. B) a payroll tax. C) a sin tax. D) a FICA tax.
Suppose demand increases and supply decreases. Which of the following will happen?
a. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will decrease. b. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will increase. c. Equilibrium quantity will rise, fall, or stay the same and equilibrium price will increase. d. Equilibrium quantity will rise, fall, or stay the same while equilibrium price will decrease. e. The change in equilibrium price and quantity cannot be determined.
Savings are generated whenever:
A. prices are rising. B. current spending exceeds current income. C. current income exceeds current spending. D. real GDP exceeds nominal GDP.
All of the following would be considered a current account transaction EXCEPT the
A. exporting of goods. B. importing of goods. C. importing of capital. D. importing of services.