Most tax payments increase as GDP increases
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is a property of a public good?
a. It is established by legislation. b. Free riders are excluded. c. Users collectively consume benefits. d. It is determined by positive economics.
An important source of structural unemployment is
A) recessions. B) people looking for the right job decide to change jobs. C) unemployment insurance benefits. D) seasonal variations in aggregate demand.
For monetarists, the sole source of fluctuations in aggregate demand is ________
A) government spending and tax rates B) the velocity of money C) the supply of money D) international trade variables, i.e. exports and imports
Efficiency is achieved
A) when output is being produced at a point inside a production possibilities curve. B) when producers are getting the maximum possible output from the available resources. C) when consumers are able to buy everything that they want. D) when prices of all goods and services go to zero.