Which of the following is an example of spending on goods and services in the circular flow model?
A) Belinda purchases a new computer for her tax-preparation business.
B) Timmy purchases a new examination table for use in his veterinary clinic.
C) Celeste buys fresh herbs at the farmers' market to use in her restaurant.
D) Javier buys 800 square feet of wood flooring for his vacation home.
D
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Which of the following best reflects the ability-to-pay philosophy of taxation?
A. An excise tax on coffee B. An excise tax on gasoline C. A progressive income tax D. A tax on residential property
Which of the following is NOT a valuable role of government in a free market society?
A. To enhance rent-seeking activities. B. To reduce market power. C. To provide public goods. D. To reduce negative externalities.
From 1950 until 2000, the labor force participation rate has
A. Increased for men and decreased for women. B. Decreased for men and increased for women. C. Increased for men and increased for women. D. Decreased for men and decreased for women.
The changing age structure of the US population and more efficient labor markets are both possible explanations for:
A. the stagnation of real wages. B. the 2001 recession. C. the decline in the natural rate of unemployment. D. the increase in the cyclical rate of unemployment.