Which of the following is true?
A) National income = Consumption - Savings + Taxes
B) National income = Consumption + Savings + Taxes
C) National income = Consumption + Savings - Taxes
D) National income = Consumption - Savings - Taxes
B
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Taxes on interest earned from savings are less inefficient
A. the less savings behavior responds to increases in the tax rate. B. the more savings behavior responds to increases in the interest rate. C. the less willing individuals are to substitute consumption today for consumption in the future. D. Both (a) and (b) E. Both (b) and (c) F. Both (a) and (c) G. None of the above H. All of the above
"Allocative efficiency in the production of cherries means that consumers can eat all of the cherries they desire." Is this statement true or false?
What will be an ideal response?
For a given price level, a downward shift of the expenditures schedule corresponds to an
A. inward shift of the aggregate demand curve. B. outward shift of the aggregate demand curve. C. outward shift of the aggregate supply curve. D. inward shift of the aggregate supply curve.
Net national product (NNP) is equal to
A) personal income minus taxes. B) GNP minus consumption of fixed capital. C) GDP plus consumption of fixed capital. D) national income plus consumption of fixed capital.