In an economy without international trade, investment must equal ________ saving.
A. national
B. public
C. private
D. life-cycle
Answer: A
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A specific tax imposed on a monopolist may increase the price by more than the tax
Indicate whether the statement is true or false
If all the assumptions underpinning the policy irrelevance proposition are in place, fully anticipated monetary policy will
A) affect the unemployment rate but have no impact on the level of real Gross Domestic Product (GDP). B) have an impact on real Gross Domestic Product (GDP) but cannot alter the level of unemployment. C) effectively alter both the rate of unemployment and the level of real Gross Domestic Product (GDP). D) not change either the level of real Gross Domestic Product (GDP) or the unemployment rate.
When there is an inflationary gap there is
A. too much spending and taxes should be raised. B. too much spending and taxes should be lowered. C. too little spending and taxes should be raised. D. too little spending and taxes should be lowered.
Which of the following Gini ratios would indicate the least amount of income inequality?
A. 0.20 B. 0.40 C. 0.60 D. 0.80