14 Which statement is true? A. The Social Security tax is progressive. B. An exc

Question

14 Which statement is true? A. The Social Security tax is progressive. B. An excise tax on cigarettes is regressive. C. A sales tax is a direct tax D. None of these statements are true. 15. The basis for international trade is A. self-sufficiency. B. specialization. C. amassing national wealth at the expense of trading partners. D. maximizing your exports and minimizing your limports. 16 Net exports is a negative number whenever A a nation's exports of goods and services exceed its imports. B. a nation's imports of goods and services exceed its exports. C. the nation's gross investment is on the decline. D. the nation's gross savings rate is on the decline. 17. Which statement is true? A. In recent years net exports have been negative. B. Government spending is the largest sector of GDP. C. Business investment is the largest sector of GDP. D. None of the statements are true. 18. Which statement is true? A GDP is a virtually perfect measure of national output B. GDP takes into account pollution, crime, and even personal satisfaction. C. GDP is a single number that seeks to measure our national output D. There is no relationship between our GDP and our national output 19. Inflation is A a rise in the price of every good and service. B. a rise of exacty a specifiled percentage in the price of every good or service. C. a rise in the average price level. D, a rise in average prices of at least 10 percent a year. ,

Explanation / Answer

Ans 14. D. None of the statements is true

Ans 15. B. Specialisation

Ans 16. B. When Nations import of goods and services exceed exports

Ans 18. D.

Ans 19. C. A rise in the average price levels

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