Since World War II, the share of corporate income tax collections in total federal revenue has been:
a. increasing rapidly.
b. declining rapidly.
c. increasing slowly.
d. declining generally.
d
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The _________ approach allows us to calculate GDP and _________ is not a component of GDP
a. income; personal consumption b. income; exports c. expenditure; durable goods d. expenditure; government purchases e. expenditure; interest
As relative prices in various industries change due to trade, the marginal product of the mobile resources used in the expanding industry __________, and the marginal product of the mobile resources used in the contracting industry __________.
a. rises; falls b. falls; rises c. remains the same; remains the same d. changes by exactly the same percentage; changes by exactly the same percentage
The poorest regions in the world, as measured by GDP per capita, are:
a. Latin America and the Caribbean. b. the Middle East and North Africa. c. Sub-Saharan Africa and South Asia. d. Australia and New Zealand.
The opportunity cost of a decision is the value of all of the available alternatives that were not chosen
a. True b. False Indicate whether the statement is true or false