Deficit spending:
What will be an ideal response?
government spending
in excess of tax revenues collected
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Average weekly hours in manufacturing is an example of a:
A) leading indicator. B) coincident indicator. C) lagging indicator. D) none of the above.
If the government removes a $2 tax on buyers of cigars and imposes the same $2 tax on sellers of cigars, then the price paid by buyers will
a. not change, and the price received by sellers will not change. b. not change, and the price received by sellers will decrease. c. decrease, and the price received by sellers will not change. d. decrease, and the price received by sellers will decrease.
What is an infant industry?
(A) An industry that has tariff protection. (B) An inefficient but necessary industry. (C) An industry making products for infants and children. (D) A young or developing industry.
Daily Output of Russia and Panama?RussiaPanamaGloves 40240Hats120180
Refer to Table 18.1. Panama has a comparative advantage in:
A. hats. B. gloves. C. both hats and gloves. D. neither hats nor gloves.