Proponents of tax-law changes to encourage saving would
a. argue that corporate tax rates should be decreased.
b. increase the number of government benefits which are means-tested.
c. argue that state sales tax should be replaced with state income tax.
d. favor none of the above programs.
a
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A decrease in the price of a good will cause a leftward shift of the demand curve, if it is a normal good
a. True b. False
For the typical consumer, present consumption is
a. preferred to future consumption b. not preferred to future consumption c. preferred to future saving d. not preferred to future saving e. financed out of present saving
Suppose a market basket of goods and services costs $400 in the base year and $500 this year. The consumer price index (CPI) for this year is:
a. 25. b. 100. c. 125. d. 500.
According to the classical model, total employment will increase when
a. the birth rate increases b. the government creates more jobs c. the labor force increases d. individuals receive more education e. there is a recession