In the aggregate expenditure (AE) model, the economy is driven to its equilibrium by changes in
A) autonomous expenditures that are the result of changes in real GDP.
B) investment that are the result of changes in real GDP.
C) induced expenditures that are the result of changes in real GDP.
D) net taxes that are the result of changes in real GDP.
E) government expenditures on goods and services that are the result of changes in real GDP.
C
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The supply curve slopes upward when graphed against ________, because of ________
A) the price of the good; increasing marginal cost B) the price of the good; decreasing marginal cost C) income; increasing marginal cost D) income; decreasing marginal cost
The government in the country of Zappoo is trying to decide which tax plan to implement. The table above shows three alternative plans. If the government decides to implement a progressive income tax, it will implement tax plan ________
A) A B) B C) C D) A or B
In the United States, all ozone-depleting substances were phased out by 2005 with the exception of
a. CFCs b. halons c. methyl bromide d. HCFCs e. none of the above
What is the primary reason that the highest quintile's share of the national income increased very rapidly over the last 20 years?
A. Poor people are lazy and do not want to work. B. All of our jobs have been shipped overseas. C. Tax cuts on the property owners and high income citizens. D. High cost of health care.