Taxes on labor tend to increase the number of hours that people choose to work
a. True
b. False
Indicate whether the statement is true or false
False
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In the aggregate expenditure (AE) model, the economy is driven to its equilibrium by changes in
A) autonomous expenditures that are the result of changes in real GDP. B) investment that are the result of changes in real GDP. C) induced expenditures that are the result of changes in real GDP. D) net taxes that are the result of changes in real GDP. E) government expenditures on goods and services that are the result of changes in real GDP.
Suppose a retail store was offering 10 percent off list prices on all goods. The benefit of the 10 percent savings is:
A. positively related to the list price of the good. B. negatively related to the list price of the good. C. zero since costs and benefits shouldn't be measured proportionally. D. unrelated to the list price of the good.
According to the text, which of the following does the United States import?
A. Clothes but not electronics. B. Cars but not shoes. C. Computers but not food. D. Electronics, cars, and food.
The infant industry argument has a normative economic basis because
A) clearly, all industries need to be protected. B) protected industries are selected on a factual basis. C) the government must decide which industries should be protected. D) political corruption is the only deciding factor.