Which of the following is an unit excise tax?
A. A tax of 15%
B. An admission fee of $2.00 on each ticket purchased
C. An ad valorem tax of $3.00
D. An income tax of $3.00
B. An admission fee of $2.00 on each ticket purchased
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By far the largest real government budget deficits measured as a percentage of natural real GDP occurred during
A) World War I. B) the Great Depression. C) World War II. D) the late 1960s. E) the late 1980s and early 1990s.
Does a subsidy to sellers affect the demand curve?
A. Yes, it shifts demand up by the amount of the subsidy. B. Yes, it shifts demand to the right by the amount of the subsidy. C. No, the quantity demanded will increase, but the demand curve does not move. D. No, the quantity demanded will decrease, but the demand curve does not move.
Given a constant rate of growth of real GDP, what would cause a fall in real GDP per capita?
a. a rate of population growth that is less than the rate of growth of real GDP b. a rate of population growth that is greater than the rate of growth of real GDP c. an increase in the size of the labor force d. an overall decrease in population
An increase in investment demand for any given level of income and interest rates—due, for example, to more optimistic "animal spirits"—will, within the IS-LM framework, ______ output and ______ interest rates.
Fill in the blank(s) with the appropriate word(s).