Compared to the U.S. production function, the European production function is
A) lower.
B) the same.
C) higher.
D) lower than the U.S. production function at low levels of employment and higher than the U.S. production function at high levels of employment.
E) higher than the U.S. production function at low levels of employment and lower than the U.S. production function at high levels of employment.
A
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In the simple Keynesian model of the determination of income, planned investment is
A) an endogenous parameter. B) autonomous and thus an exogenous parameter. C) explained by the model of income determination. D) None of the above.
A supply curve slopes upwards because
a. the higher the price the lower the quantity that the sellers are willing to supply b. the higher the price the higher the quantity that the sellers are willing to supply c. the quantity supplied in insensitive to price d. an increase in price brings the quantity sold down to zero
Which is not an effect of tax loopholes?
A. They encourage particular patterns of behavior. B. They erode the progressivity of the income tax. C. They favor particular groups of people. D. They reduce excess tax burden.
An example of a final service is:
A. getting the oil changed in your car. B. a used car. C. Tires purchased by Ford to put on their new Explorers. D. a tire to replace your flat.