On the surface, usury laws are designed to protect consumers from exorbitant interest rates
a. True
b. False
Indicate whether the statement is true or false
True
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Using the fiscal year 2020 estimates, the largest component of state and local revenue is the
A. revenue from the federal government. B. corporate income tax. C. individual income tax. D. sales, excise, and gross receipts taxes.
Accumulating a greater number of inputs will ensure that an economy will experience economic growth
Indicate whether the statement is true or false
A Californian student consumes Internet services (I) and books (B)
Her preferences are represented by a Cobb-Douglas utility function of the type: U(I,B) = I.5B.5. Initially Y = 100, PI = PB = 1. Lately, however, because of the electricity shortage, the price of the Internet services has increased to 2. The government has decided to give a transfer to the student so that she can recover her initial welfare. In order to determine the transfer the government has hired three consultants who have made the following suggestions: Consultant A: The transfer should allow the student to buy her initial bundle. Consultant B: The transfer should allow the student to get her initial level of utility. Consultant C: The government should give her a transfer of 20. a. Using the expenditure function, find the amount of the transfer implied by consultant A. b. Find the amount of the transfer implied by consultant B. c. Determine whether the consumer is better or worse off from Consultant C's suggestion than before the price increases.
Suppose the natural rate of unemployment is 4 percent. What is the actual rate of unemployment if actual output is 2 percent above potential output?
A. 3 percent B. 6 percent C. 2 percent D. 0 percent