Estate and gift taxes account for a very small portion of total tax revenues collected by the federal government because taxes are levied only on large estates.
Answer the following statement true (T) or false (F)
True
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In the 1980s, expansionary fiscal policy is believed to have crowded out
A) domestic investment as interest rates rose. B) exports and imports as interest rates rose. C) exports but not domestic investment as interest rates rose. D) domestic investment as interest rates fell.
A price ceiling that is set below the equilibrium price
A) causes suppliers to raise their prices. B) is binding. C) is non-binding. D) creates a surplus.
You paid $35 for a ticket (which is non-refundable) to see SPAM, a local rock band, in concert on Saturday. Assume that $35 is the most you would have been willing to pay for a ticket. Your boss called, and she is looking for someone to cover a shift on Saturday at the same time as the concert. You would have to work 4 hours and she would pay you $11/hr. The psychic cost to you of working is $2/hr. Your economic surplus from going to work instead of seeing SPAM on Saturday is:
A. $1 B. $36 C. $0 D. $35
According to Keynes, the most important determinant of the level of investment was the ______________.
Fill in the blank(s) with the appropriate word(s).