Probabilities, which can be obtained by repetition or are based on general mathematical principles, are called
A) statistical.
B) empirical.
C) a priori.
D) subjective.
C
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If house purchases and renting an apartment are substitutes, then an increase in the price of a new house results in a rise in the rent charged for apartments
Indicate whether the statement is true or false
On a diagram of the planned expenditure function Ep and the 45-degree line, we find autonomous planned spending
A) where the 45-degree line hits the vertical axis. B) at each level of output by the vertical distance between the Ep and 45-degree lines. C) where Ep intersects the vertical axis. D) at each level of income by the vertical distance from the horizontal axis up to Ep.
With the economy booming, the government starts to worry about the increasing rate of inflation, and decides to cut its spending on highway maintenance and defer it to sometime in the future. This is an example of:
A. discretionary fiscal policy. B. expansionary fiscal policy. C. an automatic stabilizer. D. None of these is true.
Because a carbon tax is regressive, some economists propose to use the proceeds of a carbon tax to offset other taxes that
A. are progressive. B. can, in turn, offset the carbon tax. C. also attempt to mitigate global climate change. D. are even more regressive.