Net taxes are
a. the total amount of taxes paid to the government
b. total tax revenues of the federal government
c. total tax revenues plus transfer payments
d. total tax revenues minus transfer payments
e. total tax revenues minus taxes paid by firms
D
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The multiplier-accelerator model
A) suggests that a downturn in real GDP will lead to a sharp fall in investment, which leads to further reductions in GDP through the multiplier. B) emphasizes that current investment spending depends negatively on the expected future growth of GDP. C) links investment spending to stock prices. D) emphasizes the role of real interest rates and taxes.
In general, the marginal benefit curve
A) has a positive slope. B) has a negative slope. C) is horizontal. D) is vertical. E) is concave.
As new substitutes for office productivity software are developed, the demand for workers in office productivity software production should
A) become more elastic. B) become less elastic. C) be unchanged. D) change in an undetermined way.
The buying and selling of foreign currency by the central bank is a trade policy whose objective is:
A. reducing purchases of assets abroad. B. stabilizing the exchange rate against external shocks. C. stabilizing the interest rate against foreign capital outflows. D. promoting long term economic growth.