The burden of a tax placed on buyers is:
A. shared between buyers and sellers.
B. the buyers' incidence.
C. the sellers' incidence.
D. higher if the tax is placed on buyers.
A. shared between buyers and sellers.
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Monetary policy is:
a. controlled by the president, who appoints the members of the Board of Governors b. controlled by the president, who appoints the members of the Open Market Committee. c. insulated from politics since the term of only two members of the Board of Governors expires during the tenure of any modern president of the U.S. d. insulated from politics because the Federal Reserve Board is the bankers' bank. e. controlled by the department of finance of the United States.
In the short run, monopolistically competitive firms behave like ________, but in the long run, the profit of a firm is similar to that of ________.
A. monopolies; oligopolies B. oligopolies; perfectly competitive firms C. monopolies; perfectly competitive firms D. perfectly competitive firms; monopolies
If a country wants to prevent its exchange rate from falling, it could:
A. place restrictions on imports. B. remove restrictions on imports. C. remove any subsidies on exports. D. pursue easier monetary policy.
According to your text, which of the following countries has experienced the highest annual per capita Gross Domestic Product (GDP) growth rate since 1970?
A. United States B. Mexico C. China D. Germany