Which of the following is most important if you want to achieve high earnings?
A) ability to identify and undertake actions where you can benefit at the expense of others
B) willingness to exploit workers and consumers
C) ability to provide others with things that they value highly
D) willingness to work hard even if you are not productive
C) ability to provide others with things that they value highly
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If production point is inside the production possibilities frontier
A) it is not possible to produce more of both goods. B) production is inefficient. C) in order to produce more of one good, less of the other must be produced. D) production is in the "unattainable" region.
Which is true?
A. The federal personal income tax is a progressive tax. B. More than 75 percent of all taxpayers pay more in payroll taxes than personal income taxes. C. The most important source of federal tax revenue is the personal income tax. D. All the choices.
Changes in business inventories will be negative when
A) production exceeds sales. B) production is less than sales. C) a trade surplus exists. D) a budget surplus exists.
Which of the following statements is true about the misperceptions theory?
A. Both anticipated and unanticipated changes in the nominal money supply have real effects on the economy. B. Anticipated changes in the nominal money supply have real effects, but unanticipated changes are neutral. C. Unanticipated changes in the nominal money supply have real effects, but anticipated changes are neutral. D. Neither anticipated nor unanticipated changes in the nominal money supply has real effects on the economy.