Which of the following countries devote the smallest percentage of its GDP to taxes?
a. The United Kingdom.
b. Sweden.
c. Germany.
d. The United States.
d
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Assume that the production technology required to produce goods X and Y is very similar. If a firm that is producing good X notices that the market price of good Y is rising, it will:
A. shift into producing good Y. B. anticipate a price increase for good X. C. intensify its production of good X. D. charge a higher price for good X.
A consumption tax generally will be borne according to labor earnings.
A. True B. False C. Uncertain
If real GDP doubles and the GDP deflator doubles, then nominal GDP
a. remains constant. b. doubles. c. triples. d. quadruples.
An example of screening during the hiring process is:
A. checking references. B. an interview. C. just asking for the information. D. All of these are ways to screen candidates.