If the government decreases the income tax rate, they assume it will affect which component of GDP?
A. C
B. NX
C. G
D. A change to the income tax rate will not affect any of these components.
A. C
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Universal health insurance policies fall into three categories: single payer/single provider systems, single payer systems, and regulated insurance markets. The United States has elements of two of these.
Answer the following statement true (T) or false (F)
In the long run, most economists agree that a permanent increase in government spending leads to
A) a decrease in private spending by less than the amount that government spending increased. B) a decrease in private spending by the same amount that government spending increased. C) no decrease in private spending. D) a decrease in private spending by more than the amount that government spending increased.
The Mint Act of 1792, following the ideas of Thomas Jefferson and Robert Morris, set the U.S. up as
(a) a silver standard country. (b) a paper-money country. (c) a gold-standard country. (d) a bimetallic country.
Federal individual income taxes illustrate the ability-to-pay principle of taxation
a. True b. False