The supply curve for land in the city of San Francisco is most likely
A) horizontal or perfectly elastic.
B) a downward sloping straight line.
C) an upward sloping straight line.
D) vertical or perfectly inelastic.
Answer: D
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From the Keynesian perspective, an increase in cyclical unemployment during a recession represents
A) an equivalent increase in the natural rate of unemployment. B) a roughly equal mix of voluntary and involuntary unemployment. C) involuntary unemployment. D) a decrease in the number of discouraged workers in an economy.
During the presidential campaigns, the candidates from each party typically describe their plans to maintain or change federal taxes on personal and business income. Are these policy statements generally positive or normative?
A) Positive B) Normative C) Both positive and normative D) Neither positive or normative
Which was not a result of the California gold rush?
a. A substantial increase in the money supply. b. A large increase in GNP. c. A significant decrease in the prices of farm goods. d.
Concerning tax rates and growth, which of the following is true?
A. Tax rates do not influence economic growth. B. Countries with high marginal tax rates have generally had higher rates of economic growth than those with low tax rates. C. Countries with low marginal tax rates have generally had higher rates of economic growth than those with high tax rates. D. Countries that impose high marginal tax rates at low-income thresholds generally have high rates of economic growth.