Most economists believe that property taxes:
A. Should be eliminated
B. Are progressive
C. Are regressive
D. Should become an important source of revenue for the Federal government
C. Are regressive
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The consensus of major econometric models is that monetary policy has
A) no effect on real GDP. B) an effect on real GDP only in the long run. C) a negative effect on real GDP. D) a substantial short-run effect on real GDP.
Which of the following is TRUE about the effects of an excise tax if consumers are totally unresponsive to price changes?
A) Consumers pay all of the excise tax. B) Producers pay all of the excise tax. C) Consumers and producers share the excise tax equally. D) Neither consumers nor producers pay the excise tax.
Which of the following is correct? When the actual amount supplied exceeds the actual amount demanded, then:
a. Inventories rise, unemployment tends to rise, and prices tend to fall. b. Inventories rise, unemployment tends to fall, and prices tend to rise. c. Inventories fall, unemployment tends to rise, and prices tend to rise. d. It is impossible for these two to be unequal. e. The nation falls into an economic recession.
Firms that are involved in more than one type of business could be evidence of an attempt to
a. increase private profit at the expense of consumers. b. internalize some forms of positive externalities. c. reduce the impact of government regulations on their business. d. increase the private marginal cost of production.