The policies of the New Deal in the 1930's, in an effort to alleviate unemployment, paralleled those of
a. Keynesian analysis.
b. supply-side economics.
c. Say’s Law.
d. the classical theory.
a. Keynesian analysis.
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GDP would be a better measure of economic well-being if it included:
A. the value of leisure. B. the market value of final goods. C. the total value of intermediate goods. D. the costs of education.
The total multiplier of government expenditure is
A) zero. B) between zero and one. C) one. D) larger than one.
Monopolistically competitive firms, like monopoly firms, maximize their profits by charging a price that exceeds marginal cost
a. True b. False Indicate whether the statement is true or false
When a tax is justified on the basis that the taxpayers who pay the tax receive specific government services from payment of the tax, the tax
a. is considered horizontally equitable. b. burden is minimized. c. satisfies the benefits principle. d. is considered vertically equitable.