The main difference between sales and excise taxes is that:
A. sales taxes apply to a wide range of products, while excise taxes apply only to a select
group of products.
B. excise taxes apply to a wide range of products, while sales taxes apply only to a select list
of products.
C. sales taxes are consumption taxes, while excise taxes are not.
D. excise taxes are consumption taxes, while sales taxes are not.
Answer: A
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Economists believe the most persuasive argument for protectionism is to
A) protect high wages. B) save jobs. C) protect infant industries. D) protect national security.
The Federal Reserve can directly affect its monetary policy ________, which then affect its monetary policy ________
A) goals; targets B) targets; tools C) targets; goals D) goals; tools
Other things equal, a decrease in autonomous consumption shifts the ________ curve to the ________
A) IS; right B) IS; left C) LM; left D) LM; right
Which of the following is not an example of derived demand?
a. More people want to plant gardens in the spring; therefore, demand for hoes and shovels increases then. b. Strong ticket sales for a concert cause the producers to schedule an extra show and demand more ushers. c. Increased use of robots leads to a decrease in demand for labor. d. The development of alternative fuels made from corn leads to an increase in demand for corn. e. Increasing demand for music leads to the construction of more recording studios.