An advantage of a consumption tax is that it does not distort the incentive to save
a. True
b. False
Indicate whether the statement is true or false
True
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Empirical evidence suggests that economies of scale, advertising and image differentiation, and risk spreading all help account for the large-scale production that exists in many sectors of the economy
Indicate whether the statement is true or false
The natural rate of unemployment exists when cyclical unemployment equals zero
a. True b. False Indicate whether the statement is true or false
If the MPC = .80, and investment rises from $100 to $150, real GDP will increase by:
A. $50. B. $125. C. $200. D. $250.
The long-run industry supply curve in a decreasing-cost, perfectly competitive industry is
A. negatively sloped. B. positively sloped. C. perfectly inelastic. D. perfectly elastic.