If the marginal tax rate is greater than the average tax rate, the tax structure is described as regressive
Indicate whether the statement is true or false
FALSE
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In poorer countries, free trade ________ the demand for labor in these countries and ________ the wages paid in these countries
A) decreases; lowers B) decreases; raises C) increases; lowers D) increases; raises
If the Federal Reserve buys $3 billion worth of Japanese yen and sells $5 billion of euros, how does this affect the balance of payments?
A) Falls by $2 billion B) Rises by $2 billion C) Rises by $3 billion D) Falls by $5 billion
When moving from gross domestic product to gross national product, one has to
a. add earnings by foreign residents and firms in the United States. b. subtract earnings by foreign residents and firms in the United States. c. subtract foreign earnings of U.S. residents and firms. d. add foreign earnings of U.S. residents and firms. e. Both b and d
The monopolistic competitor's demand curve is more _______ (elastic/inelastic) than a monopolist's demand curve.
Fill in the blank(s) with the appropriate word(s).