Which could be sources of funding for a government that wants to increase government expenditures?
A. both taxes and borrowing
B. borrowing only
C. neither taxes nor borrowing
D. taxes only
Ans: A. both taxes and borrowing
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Two arguments used to promote trade barriers are the infant-industry argument, and the dumping argument. Explain each of these arguments and evaluate whether each one has any flaws
What will be an ideal response?
An Added Perspective in the text shows that the average size of Japanese rice farms is growing and productivity is improving. This will likely cause __________ and generate requests for ____________
a. prices to increase; price ceilings b. prices to increase; price floors c. supplies to increase; price ceilings d. prices to decrease; price ceilings e. prices to decrease; price floors
Suppose that an increase in oil prices causes the supply curve of gasoline to shift. Using a graph, illustrate the resulting changes in equilibrium price and quantity in both the short run and the long run.
What will be an ideal response?
Since 1980 the difference between the earnings of college graduates and high school graduates has:
A. fallen, thereby increasing income inequality. B. increased, thereby increasing income inequality. C. remained constant. D. increased, thereby decreasing income inequality.