Economic growth can be depicted as a
A) shift in the contract curve.
B) a change in the dimensions of the Edgeworth box.
C) a change in the preference curves of individuals.
D) a change in the number of people in the Edgeworth box.
B
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The difference between the pretax and posttax return to an economic activity is known as the
A) tax multiplier. B) net tax. C) tax burden. D) tax wedge.
If the market price falls below the average-variable-cost, the firm will suspend production
a. True b. False Indicate whether the statement is true or false
A U.S. company uses U.K. pounds it already owned to purchase bonds issued by a company in the U.K. Which of these countries has an increase in net capital outflow?
a. The U.S. and the U.K. b. The U.S. but not the U.K. c. The U.K. but not the U.S. d. Neither the U.S. nor the U.K.
The United States has less income inequality than most other developed countries.
Answer the following statement true (T) or false (F)