U.S. government policy to stimulate research and development activities would be most likely to succeed if it involved
A. interest rate policy.
B. corporate tax policy.
C. personal income tax policy.
D. payroll tax policy.
Answer: B
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The following data show Uruguay's GDP using purchasing power parity in billions of dollars
Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 GDP($) 26.1 25.8 23.3 24.3 27.9 30.1 33.9 37.2 40.2 Using the data, we can conclude that A) Uruguay's economy reached a peak in 2000. B) GDP per person in Uruguay almost doubled between 2000 and 2008. C) potential GDP in Uruguay doubled between 2000 and 2008. D) Uruguay's economy was entered a recession in 2008.
Refer to the graph. The economy begins at a level of output of $20 billion and experiences a one year recession in which output declines by 4 percent. By what rate must the economy expand to return to potential output by year 2?
A. About 8 percent B. About 10 percent C. About 6 percent D. About 4 percent
If a used-car dealer enjoys economic profits, then
A) as a group, its customers necessarily suffered a like amount in economic losses. B) as a group, its customers were necessarily made worse off. C) as a group, its competitors necessarily suffered economic losses. D) all of the above are true. E) none of the above is true.
Rational utility maximizing consumers tend to:
A. choose the same bundle of goods regardless of their income. B. change their consumption choices when either prices or income changes. C. buy the same bundle of goods regardless of the prices charged. D. change their consumption choices only when both prices and income changes simultaneously.