Part of the surplus lost to market participants when a tax is imposed is:
A. transferred to others who are affected.
B. transferred to the government in revenues.
C. redistributed from seller to buyer.
D. redistributed from buyer to seller.
B. transferred to the government in revenues.
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Fiscal expansion
A) stimulates aggregate demand and causes output to decline. B) decreases aggregate demand and causes output to decline. C) stimulates aggregate demand and causes output to rise. D) decreases aggregate demand and causes output to rise. E) decreases government expenditures.
Factors causing an increase in currency holdings include
A) an increase in the interest rates paid on checkable deposits. B) an increase in the cost of acquiring currency. C) a decrease in bank panics. D) an increase in illegal activity.
Economics is a social science in the sense that it
a. rigorously examines human behavior. b. is not as scientific as physics. c. relies on historical data instead of mathematical data. d. relies on statistics instead of mathematics. e. All of the above are correct.
An industrially advanced country (IAC) is defined as a country with a GDP per capita among the top ____ countries in the world.
A. 10 B. 27 C. 39 D. 50