Which of the following groups believe that lower tax rates will increase the incentives to work, invest, and produce?
A. Monetarists.
B. Supply-siders.
C. New classical economists.
D. Keynesians.
Answer: B
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Suppose that in 2016, real GDP grew in Estonia by 3% and the population increased by 5%. Therefore, in 2016, Estonia experienced
A) economic growth and an increase in living standards. B) no economic growth, but an increase in living standards. C) no economic growth and no increase in living standards. D) economic growth, but not an increase in living standards.
If a new method for obtaining oil from dry oil fields is found, then we will see:
a. the AS curve shift to the left. b. a movement to the left along the AD curve. c. the AD curve shift to the left. d. the AD curve shift to the right. e. the AS curve shift to the right.
Gross private domestic investment
a. excludes all investment in the United States by foreign firms b. includes all capital in the United States c. includes net additions to the capital stock plus all new corporate stocks and bonds d. includes expenditures on new factories, tools, and machinery e. excludes the expenditures on residential structures and the cost of changes in inventories
The argument that an industry that is highly concentrated will act like an anti-competitive monopolist would support the case that the application of antitrust laws should be based on industry:
A. Mergers B. Structure C. Regulation D. Behavior