Monetary policy includes changing the level of household taxes.
Answer the following statement true (T) or false (F)
False
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If land becomes less valuable in residential use than in commercial use
A. the supply of land available for commercial use should increase and the supply of land for residential use should decrease. B. there will be no change in the allocation of land, as there is no responsiveness to price changes by suppliers of land. C. the supply of land for commercial use will become perfectly inelastic and the supply of land for residential use will become perfectly elastic. D. there can be no change in the allocation of land because land is fixed in supply.
[Y = C + I + G] when ________ in the income-expenditure model.
A. investment is excluded B. net exports are included C. government is included D. net imports are included
Average productivity of labor is measured as the additional output produced by an additional worker.
Answer the following statement true (T) or false (F)
If either the supply or the demand curve in a goods market is very elastic, a per-unit tax will end up not raising very much revenue.
Answer the following statement true (T) or false (F)