Ricardian equivalence refers to
a. the equivalence of taxes and revenues in fiscal policy.
b. the fact the households incorporate inflationary expectations in calculating interest payments.
c. the equivalence of imports and exports in an open economy.
d. the possibility that households may say save now so that they can pay the higher taxes later if there is a tax cut at the present time which drives up future interest payments.
e. none of the above.
D
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If the number of workers in a country is 12,000 and its income per worker is $380, its gross domestic product is ________
A) $524,000 B) $618,000 C) $4,560,000 D) $1,240,000
In the market for Canadian dollars measured in US dollars, the supply of US dollars is
a. The supply of Canadian dollars b. The demand for Canadian Dollars c. The demand for US dollars d. None of the above
What phrase best describes medical care spending in the United States in 1998?
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Informational advertising is the type of advertising that
A) is used exclusively on television. B) is used exclusively on radio. C) emphasizes the features of a product. D) is used to influence a consumer's tastes and preferences.