Adam Smith's book, one of the first systematic treatments of economics, was entitled
a. The Plan of the Ages.
b. The General Theory of Money, Taxes, and Income.
c. The Wealth of Nations.
d. Principles of Economics.
e. Concepts in Moral Philosophy.
c
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Which of the following revenue-raising options did the "colonial" government select to secure the resources needed to revolt?
(a) Printing money and borrowing from other countries (b) Printing money and confiscating property (c) Taxing and borrowing from other countries (d) Taxing and reducing non-military government spending
Marginal profit is equal to
A) marginal revenue minus marginal cost. B) marginal revenue plus marginal cost. C) marginal cost minus marginal revenue. D) marginal revenue times marginal cost. E) marginal revenue divided by marginal cost.
A demand-pull inflation is caused by an increase in the demand for output. Therefore, economists say that this type of inflation is actually good for the economy
a. True b. False Indicate whether the statement is true or false
Under the transferrable pollution rights system, unused permits ______.
a. must be destroyed b. can be sold c. become public property d. result in heavy fines