The idea that a tax reduction funded by government borrowing has no effect on aggregate demand is known as
A. the Ricardian equivalence theorem.
B. the Keynesian Cross.
C. the expenditure-offset theorem.
D. the balanced budget multiplier.
Answer: A
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Which of the following is not one of the four anti-competitive activities outlined in the Clayton Act?
a. Price discrimination. b. Exclusive buyer/seller contracts. c. Buying a competitor's voting stock. d. Buying a competitor's plants and equipment. e. Interlocking boards of directors.
_______% of the people on welfare lives below the poverty line.
Fill in the blank(s) with the appropriate word(s).
The marginal cost curve intersects the average total cost curve in monopolistic competition:
A. at the minimum average total cost. B. at the market price. C. to the right of the minimum average total cost. D. to the left of the minimum average total cost.
Figure 18.1Refer to Figure 18.1. The opportunity cost of hang gliders in Canada is:
A. 1/4 of a bicycle. B. 1/2 of a bicycle. C. 2 bicycles. D. 4 bicycles.