The major source of tax revenues collected by the Federal government is the corporate income tax
a. True
b. False
Indicate whether the statement is true or false
False
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There are several jewelry manufacturers in Richland. However, the jewelry produced by different manufacturers has different designs and the products are never identical. The jewelry market in Richland is an example of a ________
A) duopoly B) monopoly C) perfectly competitive market D) monopolistically competitive market
What types of rules for monetary policy may be sensible for policymakers to consider? What is the advantage of using rules over discretion? What problems might there be with rules?
What will be an ideal response?
If no fiscal policy changes are implemented to fight inflation, suppose the aggregate demand curve will exceed the current aggregate demand curve by $900 billion at any level of prices. Assuming the marginal propensity to consume is 0.90, this increase in aggregate demand could be prevented by:
a. increasing government spending by $500 billion. b. increasing government spending by $140 billion. c. decreasing taxes by $40 billion. d. increasing taxes by $100 billion.
Goods that are rival in consumption and excludable would be considered
a. club goods. b. common resources. c. public goods. d. private goods.