If domestic saving exceeds investment, there will be a current account surplus
Indicate whether the statement is true or false
TRUE
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Value-added taxes were introduced in the European Union _____
a. to get rid of inefficient transaction taxes b. to harmonize tax structures among nations c. to make taxes more equitable d. all of the above e. a and b
A firm's marginal cost can always be thought of as the change in total cost if
A) the firm produces one more unit of output. B) the firm buys one more unit of capital. C) the firm's average cost increases by $1. D) the firm moves to the next highest isoquant.
If households could be charged differently for different types of garbage,
A) the total amount of garbage would be reduced. B) recycling would be more difficult. C) costs of collecting garbage could be kept much lower. D) billing for garbage collection would be much easier. E) there would be a change in the types of items that are disposed of as garbage.
A program to reduce inflation is likely to have lower costs if the sacrifice ratio is
a. high and the reduction is unexpected. b. high and the reduction is expected. c. low and the reduction is unexpected. d. low and the reduction is expected.