Which of the following pieces of legislation represents a liberalization of federal land policy?
a. The Homestead Act of 1862
b. The Desert Land Act of 1877
c. The Timber and Stone Act of 1878
d. All of the above are correct.
e. Only a and c are correct.
d. All of the above are correct.
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
When deciding where to locate, businesses _____
a. will always locate in the lowest tax area b. pay no attention to property taxes c. might move to a high property tax area if local amenities are good d. will always locate closest to their customer base
The above figure shows the short run cost curves for a typical firm in a competitive market. If price = 8, then the firm
A) is earning positive profits. B) should produce 50 units. C) should shut down. D) None of above.
Supply-side economics stress that: a. aggregate demand is the major determinant of real output and aggregate employment
b. tax rates are not a major determinant of real output and aggregate employment. c. an increase in government expenditures financed by higher tax rates will cause RGDP to rise. d. marginal tax rate changes can exert a significant impact on RGDP, even in the long run.