Right or wrong, using the expenditure approach to GDP will show a net increase in GDP because of the 2005 Hurricanes
a. True b. False
A
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? According to Figure 5-13, if the price of good X falls, the optimal combination will move
A. from U1to a point on a higher indifference curve, such as U3. B. from U2to a point on a higher indifference curve, such as U3. C. from U1to a point on a higher indifference curve, such as U3. D. from U2to a point on a higher indifference curve, such as U1.
The nation of Exland is considered a less-developed country and has the following characteristics. Which one is not typical of a less-developed country?
a. High illiteracy. b. High unemployment. c. Rapid growth of technology. d. Low growth in technology. e. Rapid population growth.
Tax incidence most accurately refers to
A. The taxes paid divided by taxable income. B. Those from whom a tax is collected. C. The relative tax burdens of state and local governments. D. The distribution of the real burden of a tax.
When a corporation issues a bond, it is
A. Lending money to the owners of the corporation. B. Issuing dividends to shareholders. C. Borrowing funds from the initial buyer of the bond. D. Making an initial public offering.