According to Baumol and Blinder, recognition of the usefulness of markets
a. labels a person as an apologist (defender) of capital.
b. extends to some socialist countries, for example, China.
c. should make totally free markets good for any society.
d. makes one a radical.
b
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Entrepreneurs are people who:
A. entertain the workers. B. engage exclusively in business travel. C. create new economic enterprises. D. run businesses on a day-to-day basis.
The burden of a tax will fall primarily on sellers when the
a. demand for the product is highly inelastic and the supply is relatively elastic. b. demand for the product is highly elastic and the supply is relatively inelastic. c. tax is legally (statutorily) imposed on the seller of the product. d. tax is legally (statutorily) imposed on the buyer of the product.
Which of the following is true?
a. In 1916, the per person real government expenditures were approximately 60 times greater than in 1800. b. Prior to 1929, government expenditures at the state and local levels were substantially smaller than federal expenditures. c. Real federal spending per person was approximately 80 times greater in 2012 than in 1916. d. All of the above are true.
Which of the following is considered a capital inflow?
A. A sale of U.S. financial assets to a foreign buyer B. A purchase of foreign financial assets by a U.S. buyer C. A U.S. citizen's repayment of a loan from a foreign bank D. A loan from a U.S. bank to a foreign borrower