Which of the following is a positive economic statement?
a. Too much government spending is the biggest problem facing the U.S. economy.
b. Creating jobs is the most serious problem facing the U.S. economy.
c. Raising taxes provides additional revenue that should be used to finance health care.
d. If taxes are over 50 percent of national income, job creation falls.
d. If taxes are over 50 percent of national income, job creation falls.
You might also like to view...
Government stabilization policy would be unnecessary if the economy automatically gravitated toward
a. full inflation. b. full employment. c. full recession. d. an inflationary gap.
If the government were to intervene and set the rent for apartments in New York City below the market rent, then we would expect, relative to the market outcome,
a. an increase in the number of people wanting to live in apartments in New York City. b. a decrease in the number of people wanting to live in apartments in New York City. c. an increase in the number of apartments available for rent in New York City. d. None of the above is correct.
The figure below shows the international market for moped. DM is a country's demand for imports curve and SX is the foreign export supply curve. The importing country now imposes an import quota of 0.9 million, with the licenses given for free to the existing import distributors.
As a result of the quota being imposed on moped imports by this country, the world as a whole will
A. lose $7 million. B. gain $10 million. C. gain $31.5 million. D. lose $17 million.
In the above figure, total revenue for this profit-maximizing monopolistically competitive firm is
A. $96,000. B. $91,000. C. $50,000. D. $100,000.