The model of aggregate demand and aggregate supply explains the relation between
A. price and quantity of a particular good.
B. unemployment and real output.
C. wages and unemployment rate.
D. real GDP and the price level.
Answer: D
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The double taxation of corporate profit in the United States refers to the fact that
A) tax rates on partnerships are very high. B) depreciation is not a deductible expense. C) corporate profit is first taxed and then any dividends paid are subject to personal income tax. D) proprietorships are not subject to any tax on earnings.
A certain production possibilities frontier shows production possibilities for two goods, jewelry and clothing. Which of the following concepts cannot be illustrated by this model?
a. the flow of dollars between sellers of jewelry and clothing and buyers of jewelry and clothing b. the tradeoff between production of jewelry and production of clothing c. the opportunity cost of clothing in terms of jewelry d. the effect of economic growth on production possibilities involving jewelry and clothing
Since the 1960s, development proceeded without many natural resources in
A. Canada. B. Japan. C. Saudi Arabia. D. all of the options are correct.
Mortgages issued to borrowers whose credit histories include failures to make payments on bills are known as ________ mortgages
A) catastrophic B) variable rate C) subprime D) Alt-A