The AD curve will shift when there is a change in:
A. the inflation rate or the money growth rate.
B. the money growth rate or the velocity growth rate.
C. the real growth rate or the inflation rate.
D. the velocity growth rate or the real growth rate.
Ans: B. the money growth rate or the velocity growth rate.
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Which of the following is true of a progressive tax system?
A) High income households pay a higher percentage of their income as taxes. B) Low income households pay a higher percentage of their income as taxes. C) All households pay the same amount of taxes irrespective of their income. D) All households pay the same percentage of their income as taxes.
To see how variables evolve over time we use
A) a scatter graph. B) an evolution plot. C) a cross-section plot. D) a time-series graph.
Between 1929 and 1982, according to Edward Denison, approximately
a. one-fourth of the growth in output was due to the increase in the quantity of labor. b. one-third of the growth in output came from an increase in the quantity of labor. c. forty-five percent of the growth in output was credited to an increase in the quantity of labor. d. ten percent of the growth in output was responsible for the increase in the quantity of labor.
Textbook publishers often sell the same or essentially identical books in different countries for different prices. Is this an effective form of group price discrimination?
A) Yes, because the first sale doctrine does not apply to overseas sales B) No, because poor foreign students can't afford the books C) No, because people are allowed to buy the books in one country and sell them in another, making money on the arbitrage opportunity D) Yes, because the textbooks are actually different since they have a different cover and an "international" label on them