Which nation's taxation is the highest percentage of the nations' GDP?
a. Australia
b. United States
c. Germany
d. Netherlands
e. Sweden
E
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Based on the model of the money market, if the Federal Reserve increases the reserve requirement, the equilibrium interest rate should
A) stay the same. B) increase. C) decrease. D) increase to the same extent that the demand for money increases.
The infant industry argument for protectionism is to block imports ______________ to give the infant industry time to mature before it starts competing on equal terms in the global economy.
a. for a limited time b. for a long time c. permanently d. never
How does the U.S. unemployment rate generally behave during expansionary periods?
a. It rises. b. It falls. c. It remains constant. d. It fluctuates rapidly.
Suppose, compared to last year, the price of beer has increased 4%, the price of jeans has increased 7%, and the price of video rentals has decreased 1%
On the basis of this data, what can an economist conclude about the rate of inflation in the overall economy? A) Nothing. B) The inflation rate is 4%. C) The inflation rate is 7%. D) The inflation rate is 10%. E) The inflation rate is 11%.