Using Figure 7.4, expected inflation was
A. The same in 1970 and 1995.
B. Greater in 1970 than in 1995.
C. Greater during the period from 1970 to 1975 than it was during the period from 1980 to 1985.
D. Greater during the period from 1980 to 1985 than it was during the period from 1970 to 1975.
Answer: D
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Some property tax limitations, such as California's Proposition 13, only do significant reassessment of property taxes when houses are sold. This creates _____
a. an incentive to rent b. inequity between homeowners of comparable houses c. a disincentive to move d. b and c e. all of the above
Which of the following is true? Partial equilibrium analysis will
A) overstate the impact of a tax for both substitutes and complements. B) understate the impact of a tax for both substitutes and complements. C) understate the impact of a tax for complements and overstate the impact for substitutes. D) understate the impact of a tax for substitutes and overstate the impact for complements.
All of following are commonly considered to be common property EXCEPT
A) spotted owls in the wild. B) fish in an ocean. C) chickens raised in a farm. D) wild salmon in a river.
When a nation totally bans trade with another country, it is imposing a(n):
a. tariff. b. embargo. c. quota. d. none of these.