What is the federal government's largest source of revenue?
What will be an ideal response?
individual income taxes
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In games, the strategy to reach a particular goal:
A. is the same for everyone. B. can be different for different players and still achieve the same goal. C. should be similar to what others have chosen to reach the same goal. D. has begun to be documented by economists.
When the rate of cyclical unemployment is zero, the:
a. natural rate of unemployment must also be zero. b. rate of frictional unemployment must be negative. c. economy must have entered a recessionary stage. d. Keynesian aggregate supply curve must be horizontal. e. economy is considered to be at full employment.
In short-run equilibrium in perfect competition,
a. each firm's profit is measured by P - ATC b. each firm's profit is measured by ATC - P c. each firm's (economic) profit is positive d. the amount sold by existing firms at the market price is exactly equal to the quantity consumers demand at that price e. no firm wishes to enter the market
According to the classical economists
A. a market economy should never experience unemployment. B. a market economy should never experience inflation. C. if unemployment appears, it would soon disappear because of a reduction in interest rates, wages, and prices. D. if inflation appeared it would soon disappear because of a reduction in interest rates, wages, and prices.