In 1770,all the Townshend duties were repealed except_____
a. the duty on tea
b. the duty on glass
c.the duty on paper
d.the duty on red and white lead
a. the duty on tea
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Due to automatic stabilizers, when the nation's total income rises, government transfer payments
A. and tax revenues increase. B. decrease and tax revenues increase. C. increase and tax revenues decrease. D. and tax revenues decrease.
Classical growth theory asserts that
A) growth in real GDP per person is temporary. B) only some countries can have economic growth. C) real GDP growth will eventually be a constant 3 percent per year. D) nominal GDP growth is most important.
Other things being equal, a fall in the price of orange juice will decrease the quantity supplied
a. True b. False Indicate whether the statement is true or false
In the 1990s, Fed Chair Alan Greenspan believed that the market was
a. undervalued, and evidence later showed that this was clearly correct. b. undervalued, but whether it was remains debatable. c. overvalued, and evidence later showed that this was clearly correct. d. overvalued, but whether it was remains debatable.