Economic growth may understate changes in standards of living if
A) the growth is accompanied by increasing congestion.
B) leisure time is also increasing.
C) the types of jobs generated feelings of alienation.
D) deflation is taking place.
B
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The demand curve for on-demand videos has shifted to the right. What could have caused it?
A) A fall in the price of on-demand videos. B) An increase in the price of on-demand videos. C) An increase in the supply of on-demand videos. D) An increase in the income of buyers.
A tariff is a tax on ____ goods that is designed to ____
a. exported; protect domestic industries b. exported; hurt foreign industries c. imported; made domestic consumers pay more d. imported; protect domestic industries e. domestic; discourage imports
Figure 11-2
Which graph in Figure 11-2 best reflects a Keynesian view of the impact of a $500-per-person tax cut?
a.
1
b.
2
c.
3
d.
4
When media commentators refer to "tax and spend" policy, they are referring to
A. fiscal policy. B. automatic stabilizers. C. monetary policy. D. command and control policy.