A decrease in the interest rate, other things being equal, causes a(n):
A. upward movement along the demand curve for money.
B. downward movement along the demand curve for money.
C. rightward shift of the demand curve for money.
D. leftward shift of the demand curve for money.
Answer: B
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If net taxes decrease by $500 billion, both household disposable income and consumption spending will increase by $500 billion
a. True b. False
The majority of federal taxes are levied on ______,
a. property b. income c. usage d. sales
Figure 6-2
In Figure 6-2, the price elasticity of demand (dropping all minus signs) is ____ between P = 4 and P = 6 than between P = 10 and P = 12 because between the lower set of prices the percentage change in price is ____.
A. smaller; smaller B. smaller; greater C. greater; smaller D. greater; greater
Which of the following would be considered an economic function of government?
A) providing a legal system B) promoting competition C) providing public goods D) All of the above are correct.