Stagflation can be defined as a combination of ____
a. economic migration and inflation
b. economic aggregation and deflation
c. economic stagnation and inflation
d. economic aggregation and inflation
c
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Pigouvian subsidization:
A. involves the use of taxes or fees to remedy negative externalities. B. involves the use of subsidies to remedy negative externalities. C. is a legal principle requiring a party who takes an action that harms others to compensate the affected parties for some or all of their losses. D. requires that victims of an externality pay a tax to the producers of the externality.
In the neoclassical growth theory
A) small differences in the saving rate or population growth cause large variations in per capita income. B) large differences in the saving rate or population growth rate cause small variations in per capita income. C) large differences in the saving rate or small differences in population growth cause large variations in per capita income. D) small differences in the saving rate or large differences in population growth cause large variations in per capita income.
Which of the following is true of government purchases? a. Government purchases are independent of the price level
b. Government purchases are independent of the level of real GDP. c. Government purchases are independent of consumption. d. Government purchases are independent of investment. e. Government purchases are independent of the amount saved by households.
The ability-to-pay philosophy of taxation argues for a progressive form of taxation
a. True b. False Indicate whether the statement is true or false