If European economies experience strong economic growth, U.S. net exports will
a. increase and AD will shift rightward.
b. increase and AD will shift leftward.
c. decrease and AD will shift leftward.
d. decrease and AD will shift rightward.
A
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A federal budget ________ occurs when the government spends less than it collects in taxes
A) floor B) surplus C) equilibrium D) deficit
MPK falls when production becomes more ________-intensive, meaning a ________ in v* and a ________ in net investment
A) labor, fall, fall B) labor, fall, rise C) labor, rise, fall D) capital, rise, rise E) capital, fall, fall
The effective tax rate is
A. The percentage of tax payable on the last dollar of income received. B. Never higher than the nominal tax rate. C. Always equal to the marginal tax rate. D. Equal to the taxes paid divided by taxable income.
If taxes
a. increase, then consumption increases, and aggregate demand shifts leftward. b. increase, then consumption decreases, and aggregate demand shifts rightward. c. decrease, then consumption increases, and aggregate demand shifts rightward. d. decrease, then consumption decreases, and aggregate demand shifts leftward.