Consider the country of Outland. In Outland, people pay 10 percent of their income as a tax whether they earn $10,000 or $100,000 annually. Outland has ________ tax structure
A) a progressive
B) a regressive
C) a proportional
D) an excessive
C
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The government deficit is equal to
A) new money created minus new borrowing from the public. B) new borrowing from the public plus new money created. C) new borrowing from the public divided by new money created. D) new borrowing from the public minus new money created.
Happy Feet wants to prevent Best Nails from entering the nail salon market. If Happy Feet expands its capacity, the expansion can lead to all of the following except which one?
A) increase Happy Feet's profit-maximizing quantity B) decrease Happy Feet's profit-maximizing price C) increase Happy Feet's marginal cost D) decrease Best Nails' profit from entering the market
Which of the following would not be included in the measurement of GDP?
A) a bill from a car mechanic B) wages of a card dealer working in a Las Vegas casino C) commissions of a stockbroker D) the increased value of shares of stock E) c and d
The LM statistic requires estimation of the unrestricted model only.
Answer the following statement true (T) or false (F)