The founders of the U.S. Constitution clearly understood how to write a document capable of producing the amount of wealth presently accumulated in the U.S
Indicate whether the statement is true or false
False
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Income taxes create a wedge between the wage rate paid by ________ and received by workers and thereby ________ employment and ________ potential GDP
A) firms; raise; decrease B) households; lower; decrease C) firms; lower; decrease D) firms; lower; increase E) firms; raise; increase
Fluctuations in the relative demand for checking deposits versus money-market mutual funds causes instability in the overall demand for
A) M1 but not M2. B) M2 but not M1. C) M2 and M1. D) neither M1 nor M2.
The difference between what can be produced and consumed without specialization and trade and with specialization and trade is called:
a. comparative advantage. b. a tradeoff. c. marginal cost. d. opportunity cost. e. gains from trade.
You purchased an automobile two years ago for $10,000 . Its current market price is $5,000 . and the expected market value one year from now is $4,500 . If the interest rate is 10 percent, how much will it cost you to keep the car for an additional year (over and above operation and maintenance costs)?
a. $500 b. $1,000 c. $1,500 d. $5,000