The current U.S. income tax structure has the highest marginal tax rate in U.S. history for individuals earning the highest incomes
Indicate whether the statement is true or false
F
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For an inferior good, a decrease in demand is caused by
A) a rise in income. B) a fall in income. C) a rise in price. D) a fall in price.
The Keynesian-cross model is based on the idea that the ____ must equal total output
a. components of consumption b. components of aggregate supply c. components of aggregate demand d. net exports
Which of the following is an accurate statement about a monopolistically competitive firm?
a. It uses ads to sell as much of a product as competitors do at the going price. b. It uses ads to continue selling a product even with decreasing prices. c. It uses ads to sell a product even with an expected price increase. d. It uses ads to sell more of a product than competitors do at the going price.
When businesses are cutting back production, then it is probably true that
A. total spending is greater than total output. B. total output is greater than total income. C. total spending is less than total output. D. inventory levels are decreasing.