Residential construction (new houses and apartments) are included in which component of GDP?
a. government purchases
b. retail spending
c. investment spending
d. net exports
c
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Firms maximize profits when marginal revenue equals marginal cost
Indicate whether the statement is true or false
Existing loopholes erode the progressivity of the U.S. tax system.
Answer the following statement true (T) or false (F)
The ruling in the shrimp-turtle case resulted in:
a. the United States being able to ban shrimp caught with nets unsafe for sea turtles. b. the WTO upholding the environmental standard but ruling against the United States on technical grounds that it did not provide sufficient notice; after negotiation, however, the WTO reversed its decision. c. the WTO refusing to hear the case. d. a ruling that upheld the environmental standard.
The use of money and credit controls to change macroeconomic activity is known as:
A. Fiscal policy. B. Monetary policy. C. Supply-side policy. D. Eclectic policy.