"Transfer payments" may be thought of as:
A. Wages and salaries
B. Purchases of services
C. Taxes in reverse
D. Expenditures on products
C. Taxes in reverse
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In the figure above, the total revenue of a perfectly price-discriminating monopolist at the profit-maximizing output is equal to the area of
A) 0aij. B) 0dgh. C) aci. D) obeij.
What were the principal causes of the U.S. government budget deficits of the 1980s? How did these budget deficits lead to the twin deficits? According to the Ricardian equivalence proposition, should twin deficits arise as a result of tax cuts?
What will be an ideal response?
A nation's market-risk premium rises if:
a. The volatility (e.g., standard deviation) of expected inflation rises. b. The average expected inflation rate rises. c. Security maturities lengthen. d. All of the above.
Which of the following would be included in the calculation of GDP?
a. an antique diamond necklace b. a new toaster c. a second-hand dress d. a mint condition 1940 baseball card