Increasing environmental awareness in the United States has occurred with increasing GDP, which has reduced concerns about basic needs.
Answer the following statement true (T) or false (F)
True
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Assume that all taxes are lump-sum, net exports = 0, and the marginal propensity to consume is 0.8. Then, if investment and taxes were each to fall by $100 million, the equilibrium level of income would
A) rise by $100 million. B) fall by $100 million. C) rise by $500 million. D) fall by $500 million.
The production possibilities curve marks the boundary between attainable and unattainable combinations of output
a. True b. False Indicate whether the statement is true or false
Compute the tax rates for the three taxpayers shown in Table 33.1. Then use the table to answer the indicated question. TaxpayerIncome (Dollars)Taxable Income (Dollars)Taxes Paid (Dollars)Effective Tax Rate(Percent)Nominal Tax Rate(Percent)1$200,000$100,000$6,000________%________%2100,00080,0008,000________%________%360,00048,00012,000________%________%In Table 33.1, the nominal tax rate for taxpayer 3 is
A. 20.0 percent. B. 5.0 percent. C. 12.5 percent. D. 25.0 percent.
From the economist's point of view
A) wants and needs are exactly the same. B) a want is a lifesaving necessity. C) needs are objectively undefinable. D) we all have wants but only very poor people have needs.