________ is a calculation that adds up costs and benefits using a common unit of measurement, like dollar values
A) Expenditure-income analysis B) Budget constraint analysis
C) Revenue-income analysis D) Cost-benefit analysis
D
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Consider voter preferences over a public good y that is being funded by a proportional income tax. a. Illustrate how this might lead to single peaked voter preferences. b. Suppose there exists a privately available good x that is substitute for y. How does this introduce non-single peakedness? c. Now suppose x is relatively complementary to y. What would you expect to happen to voter preferences as this complementarity gets stronger?
What will be an ideal response?
When each firm is liable for taxes on total sales but can claim the taxes already paid by suppliers as a credit against liability we are using the
A. reserve method. B. chain method. C. invoice method. D. VAT method.
If nominal GDP rises we can say that
A) production has risen and prices remain constant. B) prices have risen and production remains constant. C) production has fallen and prices have risen. D) production has risen or prices have risen or both have risen.
Keynesian macroeconomists believe that the time it takes for falling wages and prices to eliminate a recessionary gap is __________ enough to say that the economy is __________
A) long; not self-regulating B) long; self-regulating C) short; not self-regulating D) short; self-regulating