Which of the following sources of revenue is used to fund government spending?
A. interest
B. taxation
C. corporate contributions
D. political party contributions
Answer: B
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Which of the following is an example of a topic studied by macroeconomists?
A) Utility maximization by a consumer B) Decision making by a producer C) Aggregate demand in an economy D) Price determination by a firm
The extent to which the demand for a good changes when the price of a substitute or complement changes, other things remaining the same, is measured as the
A) income elasticity of demand. B) cross elasticity of demand. C) price elasticity of demand. D) price elasticity of supply. E) cross income elasticity of demand.
The ____________ was designed to raise revenue and achieve mercantilist goals, while the ____________ was simply intended to raise revenue
a. Sugar Act; Tea Act b. Tea Act; Molasses Act c. Sugar Act; Stamp Act d. Stamp Act; Hat Act
For which rate of inflation given below will the real interest rate be higher than the nominal interest rate?
a. –0.5% b. 0.2% c. 0.5% d. 1.5%