A large tax cut in the United States should lead to an increase in the trade deficit.
Answer the following statement true (T) or false (F)
True
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The central fact of economics is
A. Production. B. Equilibrium. C. Efficiency. D. Scarcity.
Use the figure below to answer the following question.
The figure above shows three supply curves for wheat. Which of the following would cause the quantity of wheat supplied to increase from point a to point b?
A. a tax on wheat production B. an increase in the price of wheat C. a decrease in the price of wheat D. a subsidy for wheat production
If an auto manufacturer installs antilock brakes on a vehicle, and that alone causes the price to increase by $100, the BLS
A. does not count that increase as part of the inflation rate. B. counts only half of the price increase as part of the inflation rate. C. subtracts that price increase from the overall inflation rate. D. counts that increase as part of the inflation rate.
When a car importer in the UK buys cars from Toyota made in Japan she pays with
A. gold. B. dollars. C. pounds. D. yen.