The classical model is a model in which
a. governmental policies are needed to ensure full employment.
b. wages and prices are perfectly flexible.
c. the public has perfect information.
d. None of the above
e. b and c
E
Economics
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Since 1929, total government taxes as a percentage of GDP:
a. climbed from 10 percent to over 35 percent. b. remained close to 30 percent. c. climbed from 30 percent to about 50 percent. d. climbed from 15 percent to about 50 percent.
Economics
Ralph's Ski Shop is a local monopoly in a regional market. This type of situation can result from all of the following except:
a. small population relative to output needed for scale economies b. patent protection c. control of local zoning or limited operation permits d. long distance to alternative ski shops e. multiple products
Economics