Taxes
A. are mandatory payments.
B. are necessary for financing government expenditures.
C. do not directly relate to the benefit of government goods and services received.
D. all of these answer options are correct.
A. are mandatory payments.
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If firms in monopolistic competition are earning economic profits, eventually
A) they shut down. B) they exit the industry. C) the market turns into a monopoly. D) new firms enter the industry. E) the firms in the market increase their production so that their economic profit disappears.
In a Prisoners' Dilemma, both players are willing to pay to be forced to cooperate.
Answer the following statement true (T) or false (F)
What is the impact on interest rates when the Federal Reserve decreases the money supply by selling bonds to the public?
What will be an ideal response?
Which of the following statements about real and nominal interest rates is correct?
a. When the nominal interest rate is rising, the real interest rate is necessarily rising; when the nominal interest rate is falling, the real interest rate is necessarily falling. b. If the nominal interest rate is 4 percent and the inflation rate is 3 percent, then the real interest rate is 7 percent. c. An increase in the real interest rate is necessarily accompanied by either an increase in the nominal interest rate, an increase in the inflation rate, or both. d. When the inflation rate is positive, the nominal interest rate is necessarily greater than the real interest rate.