The assumption of variable velocity translates to, in IS-LM analysis, __________ curves
A) downward sloping IS
B) vertical IS
C) upward sloping LM
D) vertical LM
C
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When the government contributes to a public good, private contributions will fall.
Answer the following statement true (T) or false (F)
Maria owns a used car lot. One common complaint she gets from customers is that they do not know what might be wrong with a car on the lot. In order to combat this problem and still make money, what can Maria do?
a. Make sure she does not mention any faults or defects a car may have. b. Offer a voucher for a free mechanical inspection if an offer is made on a car. c. Lower all of her prices to the price expected to be paid for a lemon. d. Raise all of her prices to the price expected to be paid for a premium car.
According to the above figure, what will the price level be in the new long-run equilibrium?
A. 110 B. Less than 100 C. 100 D. 115
The so-called Tax Freedom Day of each year recognizes the day that:
A. The Federal government requires taxpayers to submit their taxes to the Internal Revenue Service B. Charitable contributions were made legal under the tax codes of the United States government C. The U.S. Supreme Court ruled that double taxation of income was illegal for corporations and businesses D. The average worker had earned enough income to pay his or her share of government spending for that year