Since 1970, federal expenditures by regulatory agencies have
A) remained constant.
B) decreased slightly.
C) increased dramatically.
D) increased slightly.
Answer: C
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A progressive tax is defined as a tax for which the
a. average tax rate rises as income increases. b. average tax rate falls as income increases. c. average tax rate remains constant at all levels of income. d. dollar tax liability of those with higher income is more than the dollar tax liability of those with lower income.
Assume that M is $200 billion and V is 6. If V increases by 15%, what will be the change in nominal GDP?
What will be an ideal response?
Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Suppose that the price of eggs increases from 75 cents to $1.00 per dozen and as a result a typical farmer experiences a decrease in egg sales from 300 to 200 dozen per week
Using the method of average values, the absolute price elasticity of demand is A) 1.4. B) 0.8. C) 3.0. D) 1.75.