Aggregate demand is increased by
A. a stronger currency.
B. increased interest rates.
C. increased taxes.
D. increased consumer confidence.
Answer: D
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A main trading partner with the U.S. is:
A. South Africa. B. China. C. Norway. D. Saudi Arabia.
If free international trade opens up and a country has a comparative disadvantage in sugar production, we should expect
a. greater sugar consumption in that country b. higher sugar prices in that country c. greater sugar production in that country d. lower sugar prices in sugar-exporting countries e. greater sugar consumption in sugar-exporting countries
If the prices used in two countries are exactly the same, then a comparison of the per capita GDPs of the two countries provides:
A. some insight into living standards depending on the accuracy of purchasing power parity. B. no insight into living standards. C. some insight into living standards depending on the extent of non-market activities in each country. D. an exact comparison of living standards.
Which of the following is a tax based on the benefits-received principle?
A. A property tax, if the revenue is used to finance public education. B. A tax added to the camping fee at national parks that is used to maintain and upgrade camping facilities at national parks. C. A tax on imports that is used to finance job retraining for workers who have lost their jobs because of the competition from imported products. D. A progressive income tax that is used to finance national defense.