A country's actual output ________ its potential output.
A. is always be approximately equal to
B. can only temporarily exceed
C. can never fall below
D. can never exceed
Answer: B
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If the interest rate is 10 percent, the present value of $400 to be received one year from today is about
A) $440. B) $390. C) $364. D) $377.
Compared to perfectly competitive markets, monopoly produces
a. higher output and lower price. b. lower output and higher price. c. lower output and lower price. d. higher output and higher price.
With a negative income tax, the larger the difference between the break-even income level and the guaranteed level,
a. the greater the tax rate (by definition). b. the greater the incentive to work. c. the smaller the number of people eligible to receive benefits. d. the more inequitable the resulting distribution of income will be.
Which of the following countries has the lowest unionization rate?
A. Sweden B. Japan C. Australia D. The United States