If the government offers to reduce your property taxes by 10 percent if you install solar heating for your home, this would be an example of
A) a violation of the rational assumption.
B) incentives.
C) disincentives.
D) ceteris paribus.
Answer: B
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Refer to the table above. Identify the correct statement
A) Country X has an absolute advantage in the production of both the goods. B) Country Y has a comparative advantage in the production of both goods. C) Country X has an absolute advantage only in the production of wheat. D) Country Y has an absolute advantage in the production of both goods.
If market forces change the exchange rate value of one dollar from 80 yen to 83.25 yen, then the dollar has
a. appreciated. b. depreciated. c. been revalued. d. been devalued.
Government policy concerning its spending and taxation is called
A. the quantity theory of money. B. fiscal policy. C. business cycles. D. monetary policy.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point B to Point D, the opportunity cost of motorcycles, measured in terms of hybrid cars,
A. increases B. remains constant. C. initially increases, then decreases. D. decreases.