Countries that are authoritarian in nature ______.
a. can pursue policies to increase economic growth
b. seldom achieve meaningful economic growth
c. become more democratic as their economies grow
d. are not interested in economic growth
a. can pursue policies to increase economic growth
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Assume a market is in equilibrium. There is an increase in supply, but no change in demand As a result the equilibrium price ________, and the equilibrium quantity ________
A) rises; increases B) rises; decreases C) rises; does not change D) falls; decreases E) falls; increases
Which of the following is a normative economic statement?
A) Tobacco products should be banned in all public spaces.
B) The increase in tobacco taxes has caused an increase in the price of cigarettes.
C) Better awareness of health risks has decreased tobacco use.
D) A reduction in tobacco subsidies has caused the price of tobacco to increase.
The federal funds market is the market where:
A. the federal government raises funds to cover its budget deficit. B. the Federal Reserve System makes loans to commercial banks. C. commercial banks with excess reserves make loans to commercial banks seeking reserves. D. commercial banks make loans to the Federal Reserve.
Refer to the graph below. Critics of supply-side economics would argue that tax rates are currently between:
A. b and d and that a decrease in tax rates will decrease tax revenues
B. 0 and b and that a decrease in tax rates will decrease tax revenues
C. 0 and b and that a decrease in tax rates will increase tax revenues
D. b and d and that a decrease in tax rates will increase tax revenues