Which of the following best represents an indirect tax?
A) federal income tax
B) state income tax
C) local property tax
D) sales taxes paid on goods and services
D
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Refer to Figure 11-5. The vertical difference between curves F and G measures
A) sunk costs. B) average fixed costs. C) marginal costs. D) fixed costs.
Which of the following is motivated by an efficiency concern?
A) In December 2006, the Bush administration restarted a short-term housing assistance program for victims of Hurricane Katrina. B) Each year, the University of Notre Dame conducts a lottery to parcel out the 30,000 seats available to contributors, former athletes, and parents in the 80,000-seat stadium. C) The United Network for Organ Sharing advocates a system of rationing scarce kidneys that would favor young patients over old in an effort to wring more life out of donated organs. D) The federal government's housing choice voucher program assists very low-income families, the elderly, and the disabled to afford decent, safe, and sanitary housing in the private market.
Economists use the word investment to refer to the portion of income that is:
A. spent on productive inputs, such as factories, machinery, and inventories. B. not immediately spent on consumption of goods and services. C. placed in an individual's savings account. D. in any interest-bearing account.
During the financial crisis of 2008, Fed policy
a. caused the monetary base to shrink significantly. b. approximately doubled the M1 money supply. c. approximately doubled the monetary base. d. maintained the monetary base at a constant level.