The lack of investment in developing countries is at least in part attributable to:
A. high levels of foreign aid.
B. low levels of domestic savings.
C. inappropriate education.
D. overpopulation.
Answer: B
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When the federal government uses taxation and purchasing actions to stimulate the economy it is conducting
A. monetary policy. B. fiscal policy. C. employment policy. D. incomes policy.
If the demand is perfectly elastic, buyers pay the entire tax
Indicate whether the statement is true or false
As a result of trade, specialization in the Ricardian model tends to be
A) complete with constant costs and with increasing costs. B) complete with constant costs and incomplete with increasing costs. C) incomplete with constant costs and complete with increasing costs. D) incomplete with constant costs and incomplete with increasing costs. E) dependent on the specific opportunity costs involved in production.
The political process by which fiscal policy is made
A) is relatively rapid, contributing to the effectiveness of fiscal policy. B) requires only that the president approve changes to the budget, a decision that takes several months. C) is efficient in reaching a decision within a year. D) is slow and results in a long time lag for fiscal policy.