The property tax exhibits a U-shaped patter with respect to income
a. True b. False
a
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The breakfast cereal industry has a four-firm concentration ratio of 80 percent. Is this enough information to classify the industry as an oligopoly? Is a high concentration ratio evidence that an industry is not competitive?
What will be an ideal response?
On a production possibilities frontier the opportunity cost of one more unit of commodity per time period is measure by the ______________
Fill in the blank(s) with the appropriate word.
When a country imposes tariffs, it is likely to cause
A. Lower prices for domestic production. B. Higher prices for the import-competing goods both domestically and abroad. C. Less expensive exports. D. Increased quantities of imports.
In an article regarding Bangladesh's economy, the author suggests that the government give tax breaks on investment dollars, research and development, and donations to educational institutions. Suppose the multiplier in Bangladesh is 2. As a result of enacting the proposed policies, which of the following describe possible outcomes in the short run?
I. A $20 billion increase in investment will increase aggregate expenditure by $40 billion II. the AE curve will shift upward III. there will be and unplanned increase in inventories a) I, II, & III b) I & II only c) I & III only d) II & III only