Scarcity is a problem that will eventually disappear as technology advances
Indicate whether the statement is true or false
FALSE
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With regard to agricultural productivity (grain crops) in the post-Civil War period (1870–1910),
(a) output per acre went up significantly. (b) output per man-hour went up significantly. (c) output per unit of energy input went up significantly. (d) all of the above occurred.
Which one of the following would cause an increase in the demand for hotel rooms in Hawaii?
A) an increase in airfares to Hawaii B) a decrease in airfares to Hawaii C) an upward movement along the demand curve for stays in Hawaiian hotel rooms D) a downward movement along the demand curve for stays in Hawaiian hotel rooms
Last year U.S. net exports of goods and services was negative. This fact means that last year
A) there was an error made when calculating net exports of goods and services for the United States. B) the value of U.S. exports was greater than the value of U.S. imports. C) the value of U.S. exports was less than the value of U.S. imports. D) U.S. consumption expenditure plus investment was less than the value of exports plus the value of imports. E) U.S. consumption expenditure plus investment plus government expenditures on goods and services was less than the value of exports plus the value of imports.
Sometimes, the taxes with the smallest excess burden are:
a. progressive b. regressive c. proportional d. digressive