Of the following, which is the largest source of government funds in the long run?
A) government borrowing
B) money creation
C) user fees
D) taxation
Answer: D
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A graph of the relationship between two variables is a line that slopes down to the right. These two variables are ________ related
A) trend-line B) negatively C) positively D) not E) directly
Profit-maximizing employment is the quantity of labor at which
A) marginal revenue product is equal to marginal factor cost. B) marginal revenue product is equal to product price. C) marginal factor cost is equal to marginal revenue. D) marginal factor product is equal to product price.
National income is the sum of:
a. personal income and personal tax payments. b. proprietors' income, rental income, compensation of employees, corporate profits, and interest receipts, net of indirect business taxes and the capital consumption allowance. c. wages, transfer payments, interest paid to businesses, and tax revenue. d. NNP and the capital consumption allowance. e. consumption, investment, government spending, and net exports.
Cartels engage in price fixing in order to:
A. drive out competition. B. retain customers. C. increase profits. D. promote entry.