Which of the following is an example of money?
A) currency inside the banks
B) currency in your wallet
C) credit card used as a payment for a good or service
D) a debit card
E) checks written as payment for a good or service
B
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If higher prices cause buyers to shop at discount stores, the CPI has
A) a new goods bias. B) a quality change bias. C) a commodity substitution bias. D) an outlet substitution bias. E) a discounted bias.
When the government uses tax revenue to pay off portions of the national debt, total purchasing power in the economy
a. increases. b. decreases. c. is not affected at any level. d. remains the same but changes individually.
Why does perfect competition shun advertising? Does advertising benefit a monopoly?
Refer to the graph shown.
A possible explanation for the difference between the distribution of income before taxes and the distribution of income after taxes shown in the graph is that the tax system:
A. is progressive. B. is proportional. C. is regressive. D. does not affect income inequality.