Consumer sovereignty is the view that consumers have the right to choose ________ and the government should not interfere with these choices
A) which goods should be subsidized
B) which goods they will consume
C) the price that they will pay for a good
D) which goods should be taxed
B
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If the MPS is 0.1 and the income tax rate is 0.33 the multiplier, k, is approximately
A) 2.5. B) 2.0. C) 10. D) 3.
In a purely competitive market, the Herfindahl Index would have a value approaching
a. 1. b. 100. c. 0. d. infinity.
Which one of the following statements is TRUE?
A. In the short run, the level of output is determined by demand. B. In the long run, the level of output is determined by demand. C. In the long run, the aggregate supply curve is horizontal. D. Where aggregate demand and aggregate supply intersect is always the full-employment level of output.
Which program provides assistance to the aged, blind and disabled?
A. Supplemental Security Income program B. TANF C. Social Security Program D. Earned Income Tax Credit