The United States has the largest percentage of foreigners in its overall population of any nation
Indicate whether the statement is true or false
FALSE
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A tax imposed by a state or local government on retail sales of most products is
A) an excise tax. B) a sales tax. C) a consumption tax. D) a social service tax.
If economic losses exist in a monopolistically competitive market,
a. new products will be introduced. b. new firms will enter the market because they see potential for profit in the future. c. firms will exit the market and the existing firms' demand curves will shift to the left. d. the average total cost curve must lie below the demand curve. e. firms will exit the market and existing firms' demand curves will shift to the right.
Which of the following would a macroeconomist classify as capital?
a. a software program for an accounting firm b. a share of stock in General Electric c. a corporate bond from IBM d. All of the above are types of capital.
The U.S. is a net importer of agricultural products.
a. true b. false