Which of the following would be most likely to induce Congress and the president to conduct contractionary fiscal policy? A significant
A) decrease in oil prices. B) increase in labor productivity.
C) increase in inflation. D) decrease in real GDP.
C
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The cost of lobbying for an import quota in a perfectly competitive market
A) increases the welfare loss of the quota. B) decreases the deadweight loss of the quota. C) shifts the supply curve of the good to the left. D) increases the consumer surplus.
Marginal productivity is
a. The total output associated with total inputs b. The total output associated with extra inputs c. The extra output associated with total inputs d. The extra output associated with extra inputs
A tax of a specific absolute sum levied on every person in the nation is a(n)
a. excise tax b. regressive tax c. progressive tax d. income tax e. proportional tax
What was the primary motivation behind the creation of the 1988 base Accord?
What will be an ideal response?