Keynes (1941) claimed that government spending during wartime could generate a healthy increase in the demand for output, thus raising employment levels and boosting incomes
To avoid inflation, physical rationing, monetary measures and other controls were consequently needed. Indicate whether the statement is true or false
True
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When a park is funded by visitors, but not by taxpayers in general,
a. there will be too few parks, because most people will not pay to use a park. b. visitors will be better served, because poor service would lead to reductions in revenues. c. park budgets will decline. d. park quality will decline.
When an economist points out that you and millions of other people are interdependent, he or she is referring to the fact that we all
a. rely upon the government to provide us with the basic necessities of life. b. rely upon one another for the goods and services we consume. c. have similar tastes and abilities. d. are concerned about one another's well-being.
A U.S. Treasury bond is a
a. store of value and common medium of exchange. b. store of value, but not a common medium of exchange. c. a common medium of exchange, but not a store of value. d. neither a store of value nor a common medium of exchange.
If producer pays entire tax, good is _________________.
Fill in the blank(s) with the appropriate word(s).