A country’s imports will rise quickly when its economy booms and rise only slowly when its economy stagnates.
Answer the following statement true (T) or false (F)
True
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What is the relationship between marginal revenue and total revenue?
A. Total revenue equals marginal revenue multiplied by quantity sold B. Total revenue equals marginal revenue minus total costs C. Total revenue equals marginal revenue plus the price of all products sold D. Total revenue equals marginal revenue plus fixed costs plus variable costs
Special interests have an incentive to become informed about a policy from which they could receive concentrated benefits
Since other voters remain rationally ignorant of the policy, the special interests will have considerable influence in the legislature. Will special interests receive everything they want from the legislature? Why or why not? How will the legislature determine what the special interests will receive?
The ability-to-pay principle is most closely tied to the concept of
a. horizontal equity in taxation. b. fiscal federalism. c. vertical equity in taxation. d. the benefits principle of tax equity.
The longest period of deflation in the U.S. in the 20th century was during World War II
Indicate whether the statement is true or false