An NGO is a private institution independent from the government.
a. true
b. false
a. true
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Consider two scenarios for a nation's economic growth. Scenario A has real GDP growing at an average annual rate of 2%; scenario B has an average annual growth of 4%. The nation's real GDP would double in about
A. 36 years under scenario A, versus 18 years under scenario B. B. 36 years under scenario A, versus 9 years under scenario B. C. 18 years under scenario A, versus 9 years under scenario B. D. 25 years under scenario A, versus 12.5 years under scenario B.
As Sally increases her consumption of a good, she experiences diminishing marginal utility if her total utility
A) increases at a constant rate. B) increases at a decreasing rate. C) increases at an increasing rate. D) decreases.
Which of the following is NOT a feature of a common market?
A) Substantial coordination of macroeconomic policies among the members B) Free trade in goods and services between the members C) Common external barriers to trade D) Factor mobility
Answer the following statements true (T) or false (F)
1. A good tax must possess the characteristic of equality. 2. If the cost of collecting a tax is low relative to the revenue generated, the tax is said to be economical. 3. Interest on the national debt is an insignificant part of the U.S. federal budget. 4. In the United States, income is taxed only by the federal government. 5. The equality-of-sacrifice doctrine would require larger taxes from higher-income groups.