Recall the Application about the incentives to install rooftop solar panels to answer the following question(s).According to the Application, the value of the federal tax credits equaled 30 percent of solar panel installation costs. If you purchase a rooftop solar panel for $20,000, then on the year you installed your solar panels, you should expect a decrease in your liabilities to the federal taxes by:
A. $6,000.
B. $12,000.
C. $15,000.
D. $1,500.
Answer: A
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In the circular flow of economic activity
A) aggregate expenditure measures the dollar value of purchases of factors. B) aggregate expenditure measures the dollar value of purchases of final goods and services. C) aggregate income measures the dollar value of labor resources only. D) aggregate expenditure is measured as it moves through the financial markets.
The notion of reciprocity means that one nation will impose import restrictions on another in order to:
a. stimulate an increase in trade restrictions in the latter. b. stimulate a decrease in trade restrictions in the latter. c. eliminate trade restrictions immediately in both countries. d. improve the government revenue collections through tariffs in both countries. e. enforce standards of product quality in the latter.
To make a correct decision about limiting imports on behalf of an infant industry, the government should look at:
a. political pressure from key constituents. b. a cost-benefit analysis measuring the present value of the likely benefits from lower production costs compared with the cost to society of higher prices in the present. c. the value of retaining U.S. jobs versus the small cost of higher priced units. d. the difficulty of keeping out imports from established trading partners and weighing the number of workers employed in the industry that could not easily get other jobs.
A resident of the U.S. just purchased a share of stock on the London stock market. As far as the U.S. balance of payments this purchase will
A. be entered in the financial account. B. be entered as a unilateral transfer in the current account. C. have no influence on the balance of payments since stock is not a good or service. D. require special drawing rights.