Which of the following shifts aggregate demand to the left?
a. an increase in the price level
b. an increase in the money supply
c. a decrease in the price level
d. a decrease in the money supply
d
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According to the Coase theorem, under certain conditions the market can internalize externalities.
Answer the following statement true (T) or false (F)
An example of a transaction that will be a surplus item on the U.S. balance of payments is
A) a U.S. resident purchasing French wine. B) a French subsidiary's plant in New Jersey purchasing parts from the main plant in Paris. C) a gift of wheat from the U.S. government to India. D) a tourist from Germany buying a ticket to fly from New York to Chicago on American Airlines.
________ is a monopoly that exists in an industry where large economies of scale act as a barrier to entry.
A. A natural monopoly B. A monopolistic competitor C. A regulated monopoly D. A price discriminator
The fact that high-income earners tend to earn a higher percentage of their incomes from rent and dividends, in contrast to low-income earners, make the payroll taxes:
A. More progressive B. Proportional C. More regressive D. A flat tax