Income tax collections:
A. rise during a recession, thus reduce the severity of the recession.
B. rise during a recession, thus increase the severity of the recession.
C. fall during inflationary episodes, thus increase the severity of the inflation.
D. fall during a recession, thus reducing the severity of the recession.
Answer: D
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Expenditures on education equal about _____ of state and local government financial outlays
a. one quarter b. one third c. one half d. two thirds
Fluctuations in employment and output result from changes in
a. aggregate demand only. b. aggregate supply only. c. aggregate demand and aggregate supply. d. neither aggregate demand nor aggregate supply.
Studies have shown that tipping is much less common in countries where caring and personal relationships are highly valued, as opposed to the values of success and materialism
Indicate whether the statement is true or false