Which of the following is an example of industrial policy?
a. Government imposing a high rate of taxes on the profits of large corporate houses
b. Government spending more on the construction of roads and bridges than on education
c. Government imposing a high rate of taxes on the import of goods and services
d. Government charging lower rate of taxes on the import of goods and services
e. Government selling imported cash crops at a subsidized rate
c
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The above figure shows the domestic market for wheat. Suppose this market is isolated from global competition and the government intervenes by setting a support price of $15 a ton
The quantity bought by domestic users once the price support is in place is A) 300 million tons. B) 400 million tons. C) 250 million tons. D) 200 million tons. E) 100 million tons.
New growth theory claims that economic growth occurs because firms reap profits from research and add to the stock of capital
Indicate whether the statement is true or false
One of the primary reasons tax withholding was instituted was _____
a. help speed up payments to the government b. decrease the government's record-keeping burden c. to improve the ability to audit individuals d. so that top marginal tax rates could be tripled
When people smoke cigarettes, their friends and family members may become sick. This affects GDP by
a. reducing GDP by the amount of medical care needed. b. reducing GDP by the cost of the cigarettes purchased. c. increasing GDP by the cost of the medical care and the cost of the cigarettes purchased. d. decreasing GDP by the cost of the medical care and increasing GDP by the cost of the cigarettes purchased.