In 2011 the largest percentage of federal government spending was on
a. national defense. The largest source of federal revenues was from corporate income taxes.
b. health. The largest source of federal revenues was from individual income taxes.
c. income security. The largest source of federal revenues was from corporate income taxes.
d. income security. The largest source of federal revenues was from individual income taxes.
d
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Suppose the quantity of sodas and the quantity of popcorn are on an indifference curve/budget line diagram. An increase in income shifts the budget line ________ and, if popcorn is a normal good, shifts the demand curve for popcorn ________
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward
Indifference curves tend to be convex because ________
A) they are bowed inwards toward the origin B) consumers dislike large fluctuations in consumption from one period to the next C) of the gap between real and nominal interest rates D) the marginal rate of substitution exceeds the price effect
In general, information asymmetries are _________________ within financial markets.
A. common B. not accounted for C. uncommon D. not easily accounted for
According to recent research, the gas tax in the United States is lower than the optimal level
a. True b. False Indicate whether the statement is true or false