An excise tax is a tax that is levied on
A) the value of a piece of property.
B) the purchase of a given good or service.
C) the value of an estate.
D) that part of a person's income coming from interest payments.
Answer: B
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Currency consists of:
a. coins and Eurodollars. b. paper money and checks. c. coins and paper money. d. paper money and Eurodollars. e. coins and checks.
Which of the following would be most likely to cause a reduction in the supply of Nintendo video games?
a. a decrease in the price of Nintendo video games b. a decrease in the price of computer chips used to make Nintendo games c. an increase in the demand for Nintendo video games d. an increase in the price of computer chips used to make Nintendo games
The change in real GDP resulting from an initial change in spending can be calculated by:
A. Dividing the multiplier by the initial change in spending B. Dividing the initial change in spending by the multiplier C. Multiplying the multiplier by the initial change in spending D. Adding the initial change in spending to the multiplier
Because of their relatively small national economies, which of the following is most likely considered to be the most important factor for Belgium, Korea, and Canada to take full advantage of specialization?
A. division of labour B. international trade C. economies of scale D. command economy