When motorcycles are taxed and sellers of motorcycles are required to pay the tax to the government,
a. the quantity of motorcycles bought and sold in the market is reduced.
b. the price paid by buyers of motorcycles decreases.
c. the demand for motorcycles decreases.
d. there is a movement downward and to the right along the demand curve for motorcycles.
a
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Adjusted gross income is
A. any profit you have from asset sales. B. total income from all sources. C. income after deductions and exemptions are taken. D. the amount of income a taxpayer has after taxes are paid.
Under a flexible exchange rate system an increase in the value of a currency relative to other currencies is a called a ________ and under a fixed exchange rate system an increase in the official value of a currency is called a ________.
A. depreciation; devaluation B. depreciation; appreciation C. appreciation; revaluation D. revaluation; appreciation
A streetlight is a
a. private good. b. club good. c. common resource. d. public good.
Which of the following makes the official measure of unemployment in the U.S. an understatement of actual unemployment?
a. Some workers become discouraged and are not actively seeking work. They are officially counted in the labor force as unemployed. b. The official measure of civilian unemployment fails to account for very high levels of unemployment among active-duty military personnel. c. The statistics count part-time employment as being no different from full-time employment. d. The official measure counts all part-time workers as unemployed.