Condorcet explained his paradox in a 1951 book called Social Choice and Individual Values
a. True
b. False
Indicate whether the statement is true or false
False
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McDonalds kept its U.S.-based menu when entering the Chinese market
Indicate whether the statement is true or false
In an economy with flexible exchange rates, which measure(s) are successful at reducing unemployment in the context of the Three-Sector-Model?
a. Increase government spending. b. Raise the discount rate for banks. c. Raise tax rates. d. Increase reserve requirements. e. All of the above
Points on the production possibilities frontier represent efficient levels of production
a. True b. False Indicate whether the statement is true or false
Answer the following statement true (T) or false (F)
1) About two-thirds of all federal spending is for national defense. 2) A progressive tax takes relatively more from the rich than it does from the poor. 3) The benefits-received principle of taxation is used to support corporate and personal income taxes. 4) Sales taxes are proportional in relation to income because the same tax rate applies regardless of the size of a purchase.