Most state governments finance their budgets through ____, and most local governments finance their budgets through ____
a. income taxes; property taxes
b. property taxes; sales taxes
c. sales taxes; property taxes
d. income taxes; sales taxes
c
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What is a circular flow diagram?
What will be an ideal response?
Which of the following explains the cause of the change in the unemployment rate at the end of a recession?
A) Firms are hesitant to rehire laid off workers as they continue to operate below capacity. B) Discouraged workers leave the labor force, and this makes the unemployment rate rise. C) Discouraged workers return to the labor force, and this makes the unemployment rate fall. D) Firms rapidly hire new workers at the first sign of an increase in demand for their goods.
The ________ is a theory of the balance of trade that emphasizes how domestic spending on domestic goods changes relative to domestic output
A) absorption approach B) monetary approach C) pass-through analysis D) elasticities approach
During the industrialization of the U.S., wealth was
(a) unequally divided among the population but accumulating. (b) a product of a federal plan for economic development and growth. (c) the sum of all revenue earned by U.S. households and businesses. (d) none of the above.