After ________, you are left with taxable income.
A. adding all deductions and exemptions to total income
B. deducting all of your yearly expenses from the income you received
C. subtracting all deductions and exemptions from total income
D. paying income taxes
Answer: C
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The real interest rate is ________ related to the supply of loanable funds because ________
A) negatively; the opportunity cost of consumption expenditure increases as the real interest rate rises B) negatively; people are motivated to save more as the real interest rate rises C) positively; people are motivated to increase their consumption expenditure as the real interest rate rises D) positively; the opportunity cost of consumption expenditure increases as the real interest rate rises E) None of the above answers is correct.
"As long as supply-side effects are ignored, the balanced budget multiplier is equal to zero." Is the previous statement correct or incorrect? Define the balanced budget multiplier and then explain your answer
What will be an ideal response?
In 2012, Canadian farmers did not suffer from drought conditions that affected the United States, but they did enjoy the higher corn prices. Canadian farmers reacted to the higher price by planting more corn
Suppose that the price of corn increased by 30 percent and the Canadian farmers increased the quantity of corn they supply by 20 percent. The supply of corn is A) perfectly inelastic. B) unit elastic. C) elastic. D) inelastic.
According to Ricardian Equivalence theory, a tax cut ________
A) will tend to have little economic effect B) will tend to reduce the magnitude of the trade-off between inflation and the rate of unemployment C) can be an effective policy tool in the midst of an economic downturn D) must be used in conjunction with money supply changes over the course of the business cycle