Which of the following would not appear on a firm's accounting statement?
a. sunk costs
b. fixed costs
c. explicit costs
d. implicit costs
e. insurance costs
D
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Using a production possibilities curve, economic growth is represented by
A) an inward shift of the curve. B) an outward shift in the curve. C) a movement along the curve. D) a pivot of the curve.
Employing the government budget diagram shown in Figure 5-1 above, assume that the economy is initially in equilibrium at point A. The movement A to D represents
A) an increase in government spending and/or a decrease in taxes. B) a decrease in government spending and/or an increase in taxes. C) a decrease in government spending and a decrease in taxes. D) an increase in government spending and an increase in taxes.
The main attractive feature(s) of a negative income tax program is (are):
a. c and d. b. c, d, and e. c. it is simple. d. it avoids the stigma of hand-outs. e. it only subsidizes the unemployed.
An increase in the value of the dollar will ___ agg demand
Fill in the blank(s) with the appropriate word(s).