The excise tax on gasoline is based on the ability-to-pay principle of taxation
a. True
b. False
B
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Holding everything else constant, the U.S. real exchange with India will increase if the rupee depreciates
Indicate whether the statement is true or false
The cyclical rate of unemployment plus the measured unemployment rate equal the natural rate of unemployment
Indicate whether the statement is true or false
Samara's income is $30 a month and she spends all of it on music downloads and gasoline. The price of a music download is $3 and the price of a gallon of gasoline is $3
At Samara's best affordable point, her marginal rate of substitution is ________ gallon of gasoline per music download. A) 0.5 B) 1 C) 1.5 D) More information is needed to determine the marginal rate of substitution.
Competition among sellers generates
A) allocative efficiency. B) productive efficiency. C) equity. D) scarcity.