Which is not a significant source of state and local government revenues?
A. Payroll taxes
B. Property taxes
C. Sales taxes
D. The federal government
Answer: A
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When the economy is in short-run equilibrium, there will be ________ output gap.
A. only a recessionary B. no C. either a recessionary or an expansionary D. only an expansionary
The above table shows some cost data for Tracey's Tents. What is the average fixed cost when 4 tents are produced?
A) $50.00 B) $12.50 C) $25.00 D) $37.50
If the purchasing power of the dollar is greater than the purchasing power of the euro, purchasing power parity predicts that the exchange rate will
A) not fluctuate and stay constant in the long run. B) increase if the exchange rate is greater than 1 euro per dollar. C) decrease if the exchange rate is less than 1 euro per dollar. D) be equal to the relative purchasing power across the currencies in the long run.
Explain who gains and who loses from an import quota and why the losses exceed the gains
What will be an ideal response?