In Figure 9.5, a movement from Point A to Point C would result from
A. An improvement in expectations for future sales.
B. A decrease in the interest rates.
C. A decrease in disposable income.
D. An improvement in technology.
Answer: B
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One of the potential upsides of contractionary fiscal policy is a reduction in
A. tax revenues. B. unemployment. C. output. D. payments on the national debt.
The above figure shows a nation's production function. Point B is
A) unattainable. B) attainable if the nation uses resources inefficiently. C) attainable if the nation uses resources efficiently. D) the maximum amount of real GDP the nation can ever produce. E) Both answers C and D are correct.
During a recession, the ________
A) number of discouraged workers decreases B) unemployment rate decreases C) employment-to-population ratio increases D) number of marginally attached workers increases
Tax evasion is
A. an illegal act. B. prevalent in the United States. C. failing to pay legally due taxes. D. all of these answer options are correct.