According to economists, one of the signs of an unhealthy economy is a(n)
a. rising labor productivity.
b. increasing real GDP.
c. declining real GDP.
d. declining unemployment.
c
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A budget surplus occurs when ________
A) government spending exceeds tax revenue B) tax revenue exceeds government spending C) imports exceed exports D) exports exceed imports
The use of a property tax to fund public schools is an example of _____
a. the benefit principle at work b. the ability-to-pay principle at work c. a compromise between the benefit and ability-to-pay principles d. the Ramsey rule at work
A firm's ability to successfully practice price discrimination is greater
a. the more difficult it is to identify a customer's willingness to pay b. the more standardized the product offered by the firm c. the more difficult it is to transfer its product from person to person d. the more active the resale market is for their product e. in goods-producing markets than in service-producing markets
The level of the exports of U.S. goods and services amounted to ________ trillion, or 14% of GDP in 2011
a. 2.1 b. 3.1 c. 4.1 d. 5.1