An increase in taxes has the following impact on the budget constraint
A) a parallel move down.
B) a parallel move up.
C) a tilting to the left.
D) a tilting to the right.
A
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Two social institutions that are essential for trade to be organized are ________
A) property rights and laws B) markets and banks C) businesses and banks D) markets and property rights
Long-run full-employment equilibrium assumes: a. a downward-sloping production function
b. a downward-sloping long-run supply curve (LRAS). c. the CPI index price level equals the equilibrium wage rate. d. the CPI equals aggregate demand (AD) equals short-run aggregate supply (SRAS) equalslong-run aggregate supply (LRAS).
Remember the fish market? On the market day, the supply curve is ____________ but over the long run the supply curve is quite __________
a. income inelastic; elastic b. elastic; inelastic c. inelastic; elastic d. fixed; variable e. variable; fixed
Only the bondholders of a corporation have the right to vote for a corporation's directors.
Answer the following statement true (T) or false (F)