If personal taxes are cut temporarily, the resulting
A. increase in personal saving would be larger than if they were cut permanently.
B. decrease in personal saving would be larger than if they were cut permanently.
C. decrease in personal saving would be smaller than if they were cut permanently.
D. increase in personal saving would be smaller than if they were cut permanently.
Answer: D
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The federal budget process begins when federal agencies submit their budget requests to the:
a. Treasury Department. b. Council of Economic Advisors (CEA). c. Office of Management and Budget (OMB). d. Congressional Budget Office (CBO).
A . If the government places a tax on land users, what will happen to the quantity of land supplied, if the supply of land is costless? What will happen to land rent? b. How will your answers to Part a . change if there are differential rents in the absence of the government tax?
The equation for determining real GDP for year X is:
a. b. x 100 c. - 100 d. x 100
A perfectly horizontal demand curve has
A) zero elasticity.
B) some positive finite elasticity.
C) negative elasticity.
D) elasticity equals infinity.