If total government tax collections equal $200 billion, transfer payments equal $75 billion, and government interest payments equal $10 billion, then net taxes equal:
A. $275 billion.
B. $115 billion.
C. $125 billion.
D. $190 billion.
Answer: B
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Suppose the economy of Georgia can produce pecans and peanuts. Suppose the economy can either produce 10,000 pecans or 15,000 peanuts if full specialization in one good were to occur
What is the opportunity cost of increasing pecan production from 5,000 to 10,000 pecans? A) 1,000 peanuts B) 5,000 peanuts C) 7,500 peanuts D) 10,000 peanuts
Women typically earn less than men, even in the same occupation. Which of the following is an explanation for this discrepancy?
A) Women tend to take riskier jobs and earn compensating wage differentials. B) Women have, on average, less workforce experience than men of the same age. C) Women do not work as hard as men because of cultural influences. D) Women are, on average, less motivated than men and therefore tend to avoid taking on more responsibilities.
The age-earning cycle
A) is an earnings profile of an individual throughout his or her lifetime. B) shows the earnings differences by age and by gender. C) depicts differences in the relationship between age and earnings across countries. D) shows the average incomes of people broken down by age categories.
The inability of Congress to pass a stimulus package after September 11, 2001, could be used as an argument for
a. activist fiscal policy. b. activist monetary policy. c. expansionary fiscal policy. d. contractionary monetary policy.