An increase in personal income taxes will cause a(n) ________.
A. decrease (or shift left) in aggregate demand
B. decrease in the quantity of real output demanded (or movement up along AD)
C. increase (or shift right) in aggregate demand
D. increase in the quantity of real output demanded (or movement down along AD)
Answer: A
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All of the following are economic implications of the 1995-2012 rise in the average rate of productivity growth except:
A. a lower natural rate of unemployment. B. larger outward shifts of the economy's production possibilities curve. C. an end to the business cycle. D. a greater rate of economic growth.
Which of the following protects people from incompetent or unscrupulous producers?
A. the Federal Register B. social regulation C. antitrust policy D. economic regulation
A tax cut will unambiguously lower income-tax revenue
Indicate whether the statement is true or false
Federal government receipts minus expenditures is the federal surplus or deficit.
Answer the following statement true (T) or false (F)