Which government sector has the ability to respond countercyclically to the economy?

A. Federal only.
B. Local only.
C. State only.
D. Federal, state, and local.


Answer: A

Economics

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Provide the definition for a regressive tax and give an example

What will be an ideal response?

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Internalizing a positive externality will cause the demand curve to

a. shift to the right. b. shift to the left. c. become more elastic. d. remain unchanged.

Economics

The concepts of comparative advantage, specialization, and trade form a compelling argument in favor of:

A. self-sufficiency. B. protectionism. C. only exporting goods and not importing goods. D. free trade.

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The additional money a business gets from producing and selling one more unit of output is

A. marginal revenue. B. long-term revenue. C. average profit. D. marginal product.

Economics