Homeowners
A. are subject to double taxation.
B. benefit from several loopholes.
C. have no particular advantages in the tax system.
D. must pay tax on the “income” of living in a house.
Answer: B
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In the figure above, one factor NOT responsible for the decline in the demand for money is
A) a decline the price level. B) a decline in income. C) an increase in income. D) a decline in the expected inflation rate.
The government could close an inflationary gap by increasing government spending by some amount greater than taxes
Indicate whether the statement is true or false
The classical economists argued that planned saving and planned investment will always be equal because of changes in
A) the level of real disposable income. B) the interest rate. C) the price level. D) wages.
An application of the substitute principle would be if the price of Pepsi decreases, then the demand for Coke would____________
a. increase (shift to the left) b. increase (shift to the right) c. decrease (shift to the left) d. decrease (shift to the right)