Which of the following is NOT true about investment goods?
A.) They add to the nation's stock of capital.
B.) They can be used to replace worn-out equipment.
C.) They can expand the nation's production possibilities.
D.)They increase the retirement benefits for individuals.
D.)They increase the retirement benefits for individuals.
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The United States has the most egalitarian distribution of income in the world
Indicate whether the statement is true or false
Marginal revenue
A. cannot be used to determine the profit-maximizing rate of production. B. is a change in revenue that is immeasurable and non-quantifiable. C. cannot be effectively utilized when analyzing the perfect competitor. D. is the change in total revenues resulting from a change in output.
Michael can buy either pizzas or submarine sandwiches. If the prices of pizzas and submarine sandwiches double and Michael's money income triples, we can conclude that Michael's budget constraint will
A. shift out but remain parallel to the old one. B. remain unchanged. C. shift in but remain parallel to the old one. D. swivel in so that the slope of the budget constraint is doubled.
Part of the increase in currency holdings in the 1960s and 1970s can be attributed to
A) increases in income tax rates. B) the switch from progressive to proportional income taxes. C) the adoption of regressive taxes. D) bracket creep due to inflation and progressive income taxes.