Technological change is a key force in shaping today's economy.
Answer the following statement true (T) or false (F)
True
There are three main forces shaping today's economy: technological change, globalization, and the evolution of financial markets.
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Using the Keynesian model, the effect of a decrease in the effective tax rate on capital would be to cause ________ in the real interest rate and ________ in output in the long run
A) an increase; no change B) a decrease; no change C) an increase; an increase D) no change; a decrease
Refer to the figure below. If the supply curve for labor can be written as L = w/2 - 3/2 and the initial wage was $10, how much excess burden is created if there is a tax on wages of $2?
Refer to the information provided in Table 21.8 below to answer the question(s) that follow. Table 21.8
Refer to Table 21.8. The value for personal income in billions of dollars is
A. 970. B. 1,000. C. 1,050. D. 1,110.
Refer to the graph shown. If the government imposed a price ceiling of $4, the quantity purchased by consumers in this market would:
A. increase from 4 to 6. B. decline from 6 to 4. C. increase from 2 to 4. D. decline from 4 to 2.