_______ will not cause a shift of the AS curve in a Keynesian framework.
a. Prices of inputs
b. Changes in input prices
c. Changes in output prices
d. Changes in inputs
c. Changes in output prices
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Most economists generally argue ________ trying to block technological advances because these technological advances ________.
A. in favor of; increase wage inequality B. against; are necessary for improved standards of living C. in favor of; cause the economy to grow to rapidly D. against; promote wage equality
Education accounts for the largest share of state and local government spending.
Answer the following statement true (T) or false (F)
Assume that the user cost of capital (C) is simply
where r is the after tax rate of return, ? is the depreciation rate, ? is the corporate tax rate and,
r is the individual tax rate. Now assume further that the after-tax rate of return is 10 percent
and the economic depreciation rate is 2 percent. The firm faces corporate taxes of 35 percent
with an individual tax rate of 25 percent. Suppose that we now know that the present value of
depreciation allowances is 0.20. In addition, there is an investment tax credit of 0.10. What
effect does this new information have on the user cost of capital?
Household income is ________ related to consumption and ________ related to household saving.
A. negatively; negatively B. positively; positively C. negatively; positively D. positively; negatively