Simple majority voting will generate the same result whether taxes are equally divided or unequally divided
Indicate whether the statement is true or false
False
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Which of the following statements concerning the long-run average cost (LRAC) curve is correct?
A) The LRAC curve represents the least-cost input combination of inputs for producing each level of output. B) The LRAC curve is derived from a series of short-run marginal cost curves. C) The short-run cost curve at the minimum point of the LRAC curve represents the least-cost plant size for all levels of output. D) As output increases, the amount of capital employed by the firm is held constant along the LRAC curve.
If China were to adopt a floating exchange-rate regime, it would:
A. cause the Chinese trade balance to fall. B. cause the U.S. trade balance with China to fall. C. force the U.S. to adopt a fixed exchange rate to maintain the balance of trade. D. de-stabilize the entire world economy.
Assume that a British investor buys a one-year U.S. Treasury bill that pays 6 percent annual interest. Given a yield of 4 percent on a comparable British Treasury bill, the U.S. dollar must depreciate 2 percent against the British pound during the year for interest rate parity to hold
a. True b. False Indicate whether the statement is true or false
If the opportunity costs of producing a good increase as more of that good is produced, the economy's production possibility frontier will be
A. a negatively sloped straight line. B. negatively sloped and "bowed inward" toward the origin. C. negatively sloped and "bowed outward" from the origin. D. a positively sloped straight line.