Intergovernmental revenue transfers can effectively cartelize local governments
a. True b. False
a
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Which of the following would count as an investment expenditure in the GDP expenditures approach?
a. General Motors hires 10 electrical engineers. b. Boeing purchases a new metal stretching machine used to produce airplane wings. c. Ms. Quantum buys 100 shares of Microsoft stock. d. A large corporation spends $10,000 per month on long-distance phone charges.
If a country's income level is high:
A. it must have a high level of growth. B. it usually has a high level of GDP per capita. C. it must be well-endowed with natural resources. D. All of these are true.
Which of the following taxes is most likely to be shifted?
A. A general sales tax. B. A flat-rate state income tax. C. A progressive federal income tax. D. A property tax on an owner-occupied residence.
Demand and marginal revenue curves are down sloping for monopolistic ally competitive firms because:
A. Each firm has to take the market price as given B. Product differentiation allows each firm some degree of monopoly power C. There are a few large firms in the industry and they each act as a monopolist D. Mutual interdependence among all firms in the industry leads to collusion