Members of the European Union (EU), rely heavily on this form of indirect taxes.
A. Value-added tax
B. Excise tax
C. Property tax
D. Sales tax
Answer: A
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Which of the following happens if the Fed buys bonds from a private bank?
A) The Fed's total liabilities remain unaffected. B) The private bank's total assets remain unchanged. C) The private bank's composition of assets remain unchanged. D) The Fed's total assets decrease.
Which of the following best represents collectivization costs?
A) Dinesh has to spend time and effort to make sure that the chemical factory is living up to the agreed upon bargain that it will reduce the pollution it is releasing into the local river by 50 percent. B) Laila needs to come up with enough cash to pay the owners of the paper manufacturing plant, its attorneys, accountants, and negotiators so that a bargain can be reached with the paper manufacturer to reduce air pollution. C) Esperanza has to spend time and effort locating and organizing all the other people who have been adversely affected by the strong odors emanating from the local slaughterhouse in order to initiate the bargaining process. D) Rafael has to spend time determining whether the fertilizer manufacturer, the lead smelter, or the oil refinery is the cause of pollution seeping into the groundwater in his local community.
Which of the following market transactions of final goods and services are excluded from the computation of U.S. GDP??
A. ?Purchases of products such as wine, beer, hard liquor, and cigarettes. B. ?Secondhand transactions, such as when a used car is sold. C. ?New purchase that a resident of one state makes in a different state. D. ?Purchases of necessities such as groceries and rent.
The figure below shows an IS-LM-FE model for an economy with fixed exchange rates. Initially the economy is at Point A, a triple intersection. Here, the FE curve is steeper than the LM curve.
Assume that the economy was initially at Point A. Which of the following could have caused the economy to move to and remain at Point B?
A. Expansionary monetary policy with sterilization B. Contractionary fiscal policy without sterilization C. Expansionary monetary policy without sterilization D. Expansionary fiscal policy with sterilization