Economists believe that political instability can facilitate economic development in an LDC by making its citizens more open to change and new technology
Indicate whether the statement is true or false
F
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Britain taxed windows from 1696 until 1851 . Under the 1747-57 tax rates, you would pay no tax if your home had 0 – 9 windows but if your home had 10 – 14 windows you would pay a tax of 6 pence per window for every window in your home
a. In what way is the window tax similar to the U.S. income tax? b. In what way is the window tax different from the U.S. income tax? c. Do you think from 1747–1757 the number of new homes with 9 or fewer windows increased from the pre-1747 days? Explain.
When a central bank buys foreign assets,
A) its holdings of foreign assets rise by the amount of the purchase, but the monetary base is unaffected. B) its holdings of foreign assets and the monetary base rise by the amount of the purchase. C) its holdings of foreign assets rise by the amount of the purchase, and the monetary base rises by the amount of the purchase times the money multiplier. D) the monetary base falls by the amount of the purchase.
The total revenue test for elasticity:
A. is equally applicable to both demand and supply. B. does not apply to demand because price and quantity are inversely related. C. does not apply to supply because price and total revenue always move together. D. applies to the short-run supply curve but not to the long-run supply curve.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point A to Point B is
A. -2/3. B. -1.5. C. -3. D. -30.