Which of the following will occur as a result of a tax increase?
A) private saving increases
B) investment increases
C) the trade balance improves
D) the trade balance worsens
E) the budget deficit increases
C
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We define a monopoly as a market with
A) one supplier and no barriers to entry. B) one supplier with barriers to entry. C) many suppliers with no barriers to entry. D) many suppliers with barriers to entry. E) a few suppliers and barriers to entry.
Which of the following is false? a. We do not have information on nonmarket transactions output that is reliable enough to include it in the GDP. b. The most important nonmarket transaction omitted from GDP are services provided directly in the home. c. The value that individuals place on leisure is omitted in calculating GDP
d. All goods and services exchanged in the current period are included in this year's GDP.