A lump-sum tax means that:
A. the tax only applies to one time period.
B. the same amount of tax revenue is collected at each level of GDP.
C. tax revenues vary directly with GDP.
D. tax revenues vary inversely with GDP.
B. the same amount of tax revenue is collected at each level of GDP.
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Goods A and B are complementary goods. An increase in the price of good A has occurred. In the market for good B this will lead to
A) an increase in price and a decrease in quantity. B) an increase in price and an increase in quantity. C) a decrease in price and a decrease in quantity. D) a decrease in price and an increase in quantity.
?Which of the following is true of time series data?
A. ?The time series data is easier to analyze than cross-sectional data. B. ?The time series data are independent across time. C. ?The chronological ordering of observations in a time series conveys potentially important information. D. ?A time series data set consists of observations on a variable or several variables at a given time.