The time and resources required to administer the current tax system create ______.
a. a high level of efficiency
b. a deadweight loss
c. an efficient equilibrium
d. an economic recession
b. a deadweight loss
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If an individual discounts delayed utils with a weight of 1/4, the present value of 90 utils to be received after a year is:
A) 17.25 utils. B) 22.5 utils. C) 90 utils. D) 460 utils.
Frictional unemployment occurs when
A. workers go back to school. B. employees file grievances and are fired. C. workers take time off to care for parents or children. D. workers move from one job into another.
Dumping is defined as
A. selling a good abroad at prices below its cost of production or below the price charged in the home market. B. exporting goods that are sources of pollution. C. exporting goods that are of inferior quality. D. selling a good abroad at prices above the costs of the firms in the foreign countries.
Refer to the graph. If the initial equilibrium interest rate was 5 percent and the money supply increased by $100 billion, then the new interest rate would be:
A. 1 percent
B. 2 percent
C. 3 percent
D. 4 percent