Which of the following items is likely to have the highest income elasticity of demand?
A) water B) a hamburger
C) a luxury cruise to several European countries D) breakfast cereal
C
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Explain Thomas Hobbes' view that favors consumption as the best tax
What will be an ideal response?
The 2009 fiscal stimulus package did not work ________
A) in that the IS curve did not shift to the right B) because most of the intended increase in government spending took too long to kick in C) because the increase in government spending was not enough to offset the decline in autonomous expenditure D) all of the above E) none of the above
The full-employment level of GDP is
A) endowments. B) long-run aggregate demand. C) long-run aggregate supply. D) economic growth.
Managers need to enforce property rights inside a firm
Indicate whether the statement is true or false