Who determines rationality?
a. the person observing the choice
b. the person making the choice
c. the person providing the choice
d. the person affected by the choice
b. the person making the choice
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If the demand curve for a good is horizontal, a tax is levied on this product is
A) split between the buyers and the sellers but not evenly so that either the buyer or the seller pays more. B) split evenly between the buyers and the sellers. C) paid entirely by buyers. D) paid entirely by sellers. E) not paid by either the buyers or the sellers.
The poverty rate for blacks is _____________ the poverty rate for non-Hispanic whites.
A. almost three times B. about 50% more than C. slightly higher than D. a little lower than
Crowding out results in a decrease in
A) transfer payments. B) defense spending. C) private spending. D) government spending.
The aggregate demand curve would shift to the right as a result of
A) a decrease in the U.S. real interest rate. B) tax increases. C) a decrease in the amount of money in circulation. D) a drop in the price level.