A. the economy achieves its potential output
A. 15 percent.
B. 33 percent.
C. 25 percent.
D. 40 percent.
C. 25 percent.
You might also like to view...
Suppose that in Canada the government places a $1,500 tax on the buyers of new snowmobiles. After the purchase of a new snowmobile, a buyer must pay the government $1,500. How would the imposition of the tax on buyers be illustrated in a graph?
A) The tax will shift both the demand and supply curves to the right by $1,500. B) The tax will shift the demand curve to the left by $1,500. C) The tax will shift the supply curve to the left by $1,500. D) The tax will shift the demand curve to the right by $1,500.
Refer to above Table 2-2. What is the increase in real GDP between years 1 and 2 at fixed year 2 prices?
A) 2.1% B) 5.1% C) 4.4% D) 3.3%
The rental price of capital is
a. determined outside the realm of factor markets. b. the price paid to use capital for a limited time period. c. the price paid for ownership of the capital. d. always more than the purchase price.
Wages in American industry are very high because of wage laws.
Answer the following statement true (T) or false (F)