Which of the following is not among the factors that could shift the supply of pounds curve? You may assume all other factors are held constant
a. A change in U.S. real GDP.
b. A change in British real GDP.
c. An increase in the U.S. interest rate.
d. A change in British tastes for American goods.
e. An increase in the U.S. price level.
A
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Profits represent
A) a reward to entrepreneurs. B) the income earned from a bond. C) the difference between total tax revenue and total government spending. D) the payments firms make to their employees.
An example of a final good would be
A) the coffee beans sold to Starbucks. B) the whipped cream sold to Starbucks. C) the soy milk sold to Starbucks. D) a soy latte sold by Starbucks to a student.
The Laffer curve shows the relationship between tax:
a. revenue and tax rates. b. revenue and take-home pay. c. revenue and government spending. d. rates and take-home pay. e. rates and government spending.
The statement that "at 10 percent, the interest rate is too high for families to buy the home they deserve," is a(n)
a. positive statement b. normative statement c. morally ambiguous philosophical position d. affront to the American dream e. value judgment