If the dollar was initially valued at 20 rubles and its value rises to 23 rubles, then the value of a ruble (in terms of dollars) has _____________.
Fill in the blank(s) with the appropriate word(s).
decreased
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According to the marginal productivity theory of income
A) the income received by an individual who supplies labor services equals the incremental benefit generated to the firm by that individual's labor. B) the average income received by an individual who supplies resources is influenced by the resources owner's marginal productivity. C) the greater the quantity of resources owned by an individual, the greater his incentive to increase productivity and his income. D) the income received by an individual who supplies labor services equals the profit generated to the firm by that individual's labor.
The burden of a luxury tax falls
a. more on the rich than on the middle class. b. more on the poor than on the rich. c. more on the middle class than on the rich. d. equally on the rich, the middle class, and the poor.
One shortcoming of real GDP as an indicator of society's social well-being is that it fails to take into account the:
A. non-market production. B. change in the price level. C. growth in productivity. D. increase in the quantity of goods.
A government policy that would reduce the saving rate is
A. giving tax breaks to increase the real return that savers receive. B. switching the tax system to tax consumption instead of income. C. increasing the government budget surplus by cutting government spending. D. eliminating the social security system.