The difference between an orthodox stabilization plan and a heterodox stabilization plan is that the orthodox plan
A) targets the problem of inflation, while the heterodox plan targets unemployment.
B) reduces trade flows less than the heterodox plan.
C) does not include higher taxes and the heterodox plan does.
D) does not include wage and price controls and the heterodox plan does.
D
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The term ________ refers to how the burden of the tax is distributed across various agents in the economy
A) tax funding B) tax incidence C) tax haven D) tax discrimination
The cost of production plus producer surplus is the price a seller is paid
a. True b. False Indicate whether the statement is true or false
Competitive markets result in allocative efficiency because they
A. exhaust all possible benefits for the consumer. B. exhaust all possibilities for mutually beneficial trade. C. distribute resources in the most equitable way. D. generate all possible benefits for the consumers.
The derived demand curve for loans slopes downward because as interest rates
A. fall, future income becomes less valuable. B. fall, investors develop pessimistic expectations. C. fall, future income becomes more valuable. D. rise, investors become pessimistic.