General grants come with strings attached
a. True b. False
b
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According to the Austrian view of the business cycle, expansionary monetary policy that pushes the interest rate to an artificially low level will
a. lead to an increase in long-term investments like houses and office buildings without generating the savings that will be required for their purchase in the future. b. lead to a reduction in long-term investments like houses and office buildings that will quickly throw the economy into a recession. c. lead to an increase in long-term investments like houses and office buildings that will enhance the long-term growth of the economy. d. lead to a reduction in investment, but there will be no impact on output, employment or the general level of prices.
If the demand for a good is elastic, then total revenue
a. increases as price increases. b. remains constant as quantity demanded increases. c. increases as price decreases. d. decreases as quantity demanded increases. e. decreases as price decreases.
Cyclical unemployment is the result of
A) a persistent mismatch between the skills and characteristics of workers and the requirements of the jobs. B) the search process of matching workers with jobs. C) the ups and downs in inflation. D) a slowdown in the economy.
Refer to the information provided in Table 19.3 below to answer the question that follows.
Table 19.3 
Refer to Table 19.3. The tax rate structure in this example is
A. proportional. B. progressive. C. regressive. D. marginal.