The members of NAFTA include
A. only the United States and Mexico.
B. only the United States and Canada.
C. only Mexico and Canada.
D. the United States, Canada, and Mexico.
D. the United States, Canada, and Mexico.
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If consumers suddenly decide they no longer want to purchase hybrid vehicles, the price of hybrid vehicles will likely ________ and producers will ________ production
A) increase; decrease B) increase; increase C) decrease; decrease D) decrease; increase
If monopolies are both inevitable and bad, which policy alternative will be least disruptive of all effective policy alternatives?
a. regulate prices b. nationalize c. laissez-faire d. encourage concentration e. split up the monopoly
A progressive tax
a. is one that taxes those with higher incomes at a higher rate than those with lower incomes. b. takes a similar percentage in the form of taxes from those with higher incomes as it does from those with lower incomes. c. takes a higher percentage of income in the form of taxes from those with lower incomes than from those with higher incomes. d. is any tax in which the dollar amount of taxes paid increases with income.
Exhibit 5-10 GDP data (billions of dollars) Indirect business taxes$ 600 Depreciation950 Change in business inventories50 Compensation of employees5,400 Corporate profits700 Durable goods600 Exports100 Social Security taxes360 Transfer payments300 Fixed investment950 Government spending800 Imports150 Net interest500 Nondurable goods2,000 Personal taxes1,000 Rental income200 Services4,000 In Exhibit 5-10, GDP calculated using the income approach,
A. is greater than GDP calculated using the expenditure approach. B. is equal to GDP calculated using the expenditure approach. C. is less than GDP calculated using the expenditure approach. D. is unrelated to GDP calculated using the expenditure approach.