The United States has greater income disparity than
a. Japan.
b. India.
c. South Africa.
d. Both a and b are correct.
d
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Say's law implies that
A) surpluses never occur. B) there will always be unemployment. C) surpluses or shortages are possible, but only for a short time. D) shortages never occur.
Most economists believe the LM curve to be
A) horizontal most of the time. B) upward-sloping. C) vertical. D) downward-sloping.
If a tax system has no deductions, exemptions, or other loopholes, then the effective tax rate will be
A. Equal to the nominal tax rate. B. Greater than the nominal tax rate. C. Less than the nominal tax rate. D. Equal to the vertical tax rate.
The goal of advertising is to
A. differentiate a firm's product. B. overwhelm the buyer so they buy a firm's product. C. pay for public broadcasting. D. minimize cost curves for the firm.