We could increase the production of both heart transplants and round-the-world trips if we moved to point T from point
A. P.
B. Q.
C. R.
D. S.
A. P.
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Which of the following fiscal policy changes would be the most expansionary?
A. A $20 billion tax cut and $20 billion increase in government purchases B. A $40 billion tax cut C. A $10 billion tax cut and $30 billion increase in government purchases D. A $40 billion increase in government purchases
In 1990, which Latin American countries saw inflation climb above 2,000%?
a. Colombia and Venezuela b. Mexico and Guatemala c. Brazil and Argentina d. Uruguay and Paraguay
Suppose buyers of vodka are required to send $5.00 to the government for every bottle of vodka they buy. Further, suppose this tax causes the effective price received by sellers of vodka to fall by $3.00 per bottle. Which of the following statements is correct?
a. This tax causes the demand curve for vodka to shift downward by $5.00 at each quantity of vodka. b. The price paid by buyers is $2.00 per bottle more than it was before the tax. c. Sixty percent of the burden of the tax falls on sellers. d. All of the above are correct.
The short-run version of aggregate supply assumes that product prices are:
A. Fixed while resource prices are flexible B. Flexible while resource prices are fixed C. Both input and product prices are flexible D. Both input and product prices are fixed