During an expansion, tax revenues ..., while during a recession, tax revenues ...
What will be an ideal response?
increase; decrease
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If we compare the four sources of spending in the economy we see that
A) household consumption is the smallest. B) government expenditure is the largest. C) business investment is the largest. D) household consumption is the largest.
In its long-run equilibrium, a firm in monopolistic competition
A) makes zero economic profit and operates with excess capacity. B) makes zero economic profit and produces above capacity output. C) makes a positive economic profit and operates with excess capacity. D) makes a positive economic profit and produces above capacity output.
A criticism of market-oriented schemes says that consumers may not be well informed.
A. True B. False C. Uncertain
The rental market for textbooks is predicted to
A. increase costs to students B. decrease royalty payments to authors. C. increase royalty payments to authors. D. have no impact on royalty payments to authors.