Government-sponsored goods are those goods
A) that society views desirable through the political process.
B) that companies give away as promotional prizes.
C) that have lower than average negative externality.
D) that only low-income individuals consume.
A
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Proponents of the estate and gift tax argue that the tax is necessary because
A) it generates a large portion of total federal revenue. B) it prevents "unfair" accumulation of wealth across generations. C) it is the primary source of funding for Medicare and Medicaid. D) it is only applied to items that have not previously been taxed.
Currency held outside the banking system is included
A) in M1 but not M2. B) in M2 but not M1. C) in both M1 and M2. D) in neither M1 nor M2.
Suppose that X and Y are complementary goods. If the price of good X decreases, we can expect the
a. demand for good X to increase b. quantity demanded of good Y to decrease c. quantity demanded of good Y to increase d. demand for good Y to decrease e. demand for good Y to increase
Increases in potential output shift:
A. the long-run aggregate supply curve, the short-run aggregate supply curve, and the dynamic aggregate demand curve. B. the short-run aggregate supply curve. C. the long-run aggregate supply curve. D. both the long-run aggregate supply curve and the short-run aggregate supply curve.