The business cycle is the alternating periods of economic growth and contraction.
Answer the following statement(s) true (T) or false (F)
Ans: True
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In general, a fine on buying a product leads to the
A) supply curve shifting rightward. B) supply curve shifting leftward. C) demand curve shifting rightward. D) demand curve shifting leftward.
The following are properties of the logarithm function with the exception of
A) ln(1/ x) = -ln(x). B) ln(a + x) = ln(a) + ln(x). C) ln(ax) = ln(a) + ln(x). D) ln(xa) a ln(x).
You just purchased a lawn mower from your next-door neighbor. How can we measure the gains from this transaction?
A. The actual benefit that you receive plus the actual benefit to your neighbor B. The gains to your neighbor minus the amount that you paid her C. The gains to you minus the amount that your neighbor paid for the mower D. The gains to you cancel out the gains received by your neighbor E. Just the benefit to your neighbor
In the U.S. taxes:
a. are higher as a share of GDP than in France b. rely more on sales taxes than on income taxes c. have higher shares of social security contribution than in Europe d. none of the above