The government taxes corporate income on the basis of
a. profit.
b. the amount the firm receives for the goods or services it sells.
c. the number of employees.
d. All of the above are correct.
a
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_________ inflation can be explained by an ________ shift in the aggregate _________ curve
a. Demand-pull, leftward, demand b. Cost-push, rightward, supply c. Demand-pull, leftward, supply d. Cost-push, rightward, supply
One surprising insight from viewing policy as a "game" is that
A) central bankers should project an image of being conservative on economic policy matters, regardless of their personal views. B) it is more difficult to control inflation when the central bank is highly independent. C) uncertainty over the impact of policy makes little difference in designing an optimal policy. D) money growth has little or no impact on inflation in the long run. E) decreasing money growth may substantially increase the rate of inflation in the long run.
The following data relate to the supply schedule of a product.PriceQuantity Supplied$51001020015250203002535030500Using the midpoint formula, what is the price elasticity of supply when price increases from $5 to $10?
A. 0.69 B. 0.51 C. 1 D. 0.64
In a housing market with no rent ceilings, the equilibrium rent is that for which the quantity of apartments demanded
A) equals the quantity supplied. B) is greater than the quantity supplied. C) is less than the quantity supplied. D) might be greater than, equal to, or less than the quantity supplied depending on whether the supply curve is upward sloping, horizontal, or vertical. E) None of the above answers is correct because without rent ceilings there is no equilibrium rent.