The recession of the early 1990s was triggered by a decrease in aggregate supply

Indicate whether the statement is true or false


F

Economics

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If Bob earns $20,000 a year and pays $2,000 in taxes, and Cindy earns $40,000 a year and pays $4,000 in taxes, there is a _______________ tax in place.

A. progressive B. regressive C. proportional D. lump-sum

Economics

What was suggested by Keynes to move the economy out of a depressed state?

a. The invisible hand b. The price mechanism c. Monetary and fiscal policy d. Zero government intervention

Economics

Why are human resources limited?

A. Some people are unable to work. B. New equipment is expensive. C. Countries lack needed technology. D. World population continues to grow.

Economics

Two firms producing identical products may merge due to the existence of:

A. economies of scale. B. cost complementarities. C. economies of scope. D. All of the statements are correct.

Economics