Using the income approach, an indirect business tax is a(n):
a. sales tax.
b. excise tax.
c. license fee.
d. all of these.
d
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Households act as suppliers when they provide
a. goods and services to firms and governments b. resources to firms and governments c. tax payments to governments d. the demand for only what firms supply or make available e. money to firms in exchange for goods and services
High prices do not occur in laissez-faire markets
a. True b. False Indicate whether the statement is true or false
The difference between the money rate of interest and the real rate of interest is often called the
a. real balance effect. b. prime interest rate. c. inflationary premium. d. discount rate.
It is likely that efficiency wages will decrease employee effort
a. True b. False Indicate whether the statement is true or false