A rise in foreign real national income tends to raise U.S. __________, shifting the U.S. AD curve to the __________
A) exports; left
B) exports; right
C) imports; left
D) imports; right
B
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If the annual interest rate is 10%, the net present value of receiving $550 in the next year is:
a. $550 b. $551 c. $549 d. $500
Economists disagree on whether labor taxes cause small or large deadweight losses. This disagreement arises primarily because economists hold different views about
a. the size of labor taxes. b. the importance of labor taxes imposed by the federal government relative to the importance of labor taxes imposed by the various states. c. the elasticity of labor supply. d. the elasticity of labor demand.
Suppose the country of Mankiwland has a new king, King Gregory. For the purpose of efficiency King Gregory's chief economic advisor would encourage him to design his country's tax system to minimize (i) deadweight losses from taxes. (ii) administrative burdens from taxes. (iii) the tax payments themselves. (iv) government expenditures to correct for market failures
a. (i) only b. (i) and (ii) only c. (iii) and (iv) only d. (i), (ii), (iii), and (iv)
An American retailer purchased 500 pairs of shoes from a company in Thailand in the second quarter of 2016 but does not sell them to a consumer until the third quarter of 2016 . Which of the following components of U.S. GDP is affected by this transaction in the third quarter of 2016?
a. consumption, investment and imports b. only consumption and investment c. only consumption and imports d. only investment and imports