Which of the following is not likely to be a government objective?
a) Increasing employment
b) Increasing economic growth
c) Increasing government spending
d) Increasing the level of exports
Answer: c) Increasing government spending
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In constructing the Human Development Index, high income levels are given less than proportionate weight because
a. Items bought by rich people are luxuries, not necessities. b. United Nations bureaucrats are prejudiced against the rich. c. Dollars received by rich people may have a lower marginal utility than dollars received by poor people. d. Items bought by rich people create more pollution than those bought by the poor. e. All of the above are valid reasons.
The federal government receives most of its revenue from three sources: personal income tax, corporate income tax, and payroll tax.
Answer the following statement true (T) or false (F)
Refer to the diagrams. If $4 is Firm B's profit-maximizing price, its:
A. ATC must be $4.
B. MC must be $4.
C. MR must be $4.
D. MC must be zero.
Assume there are no prospective investment projects (I) that will yield an expected rate of return (r) of 25 percent or more, but there are $5 billion of investment opportunities with an expected rate of return between 20 and 25 percent, an additional $5 billion between 15 and 20 percent, and so on. The investment demand curve for this economy is:
