The largest single source of revenue for the federal government is
A. Social Security payroll taxes.
B. Personal income taxes.
C. Corporate income taxes.
D. Excise taxes.
Answer: B
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The Phillips curve is thought to reflect the relationship between
A) unemployment and inflation. B) the price level and inflation. C) unemployment and real GDP. D) inflation and real GDP.
Which of the following is not a reason why firms experience economies of scale?
A) Workers and managers can become more specialized, enabling them to be more productive. B) As output increases, the managers can begin to have difficulty coordinating the operations of their firms. C) Technology can make it possible to increase production with a smaller increase in at least one input. D) Larger firms may be able to purchase inputs at lower costs than smaller competitors.
How many units should Harvey's Housewares produce?
a. 1 unit b. 2 units c. 3 units d. Zero units, at these prices, the production should not start
From uncovered interest parity, we know that when the domestic interest rate is greater than the foreign one:
a. the domestic currency is expected to appreciate. b. the domestic currency is expected to depreciate. c. the foreign currency is expected to appreciate. d. the foreign currency is expected to depreciate.