Senator Jackson argues that replacing the federal income tax with a national sales tax would increase the level of output. Senator Feldman objects that this policy would benefit the rich at the expense of the poor
a. Both senators' arguments are primarily about equality.
b. Both senators' arguments are primarily about efficiency.
c. Senator Jackson's argument is primarily about equality, while Senator Feldman's argument is primarily about efficiency.
d. Senator Jackson's argument is primarily about efficiency, while Senator Feldman's argument is primarily about equality.
d
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The Bretton Woods system
a. fixed exchange rates in terms of U.S. dollars. b. fixed exchange rates in terms of all major currencies. c. fixed exchange rates in terms of gold. d. established a system of flexible exchange rates.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the short run would be:
A. P1 and Y2. B. P2 and Y3. C. P3 and Y1. D. P2 and Y2.
In the long run
A) the firm's fixed costs are greater than its fixed costs in the short run. B) all of the firm's costs are explicit costs; there are no implicit costs of production. C) the firm is more profitable than it is in the short run. D) all of the firm's costs are variable costs.
If people who own cats tend to have fewer mice on their property, we can say there is a negative correlation between owning cats and having mice on your property.
Answer the following statement true (T) or false (F)