Decreasing government spending ______ the price level and ______ equilibrium real GDP.
a. decreases; increases
b. increases; decreases
c. increases; increases
d. decreases; decreases
d. decreases; decreases
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In the United States, partnership profits are taxed at the business level and then are taxed again as personal income in the form of dividend payments
Indicate whether the statement is true or false
Microeconomics can be used by governments to predict the impacts of a policy and suggest solutions to problems
What will be an ideal response?
Economies of scale and Increasing Returns to Scale are the same thing looked at from either the production or cost perspective
Indicate whether the statement is true or false
Refer to Table 18-6. Calculate the income tax paid by Sasha, a single taxpayer with an income of $60,000
A) $22,800 B) $14,400 C) $13,800 D) $13,642