In an inflationary gap, equillibrium ______ full-employment GDP
Fill in the blank(s) with the appropriate word(s).
exceeds
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The "monopoly issue" is concerned with the fact that
(a) monopolies will "charge what the traffic will bear" in order to maximize their profits. (b) monopolies will attempt to increase their profits by discriminating among their customers and charge prices that they are willing to pay, instead of charging one price. (c) monopolies will be able to charge higher prices and earn higher rates of return than competitive firms. (d) all of the above apply.
What percentage of personal income tax revenue was collected from the top 1 percent of earners in 2010?
a. less than 10 percent b. approximately 15 percent c. approximately 20 percent d. more than 35 percent
Which of the following would be most likely to improve the standard of living of the residents of a less-developed country?
a. the development of strong labor unions b. a sharp increase in the legal minimum wage c. an increase in expenditures on education and capital investment d. rapid growth rate of the money supply
National defense argument, infant industries argument, and declining industries argument are arguments in favor of trade restrictions
Indicate whether the statement is true or false