If a lump-sum income tax of $25 billion is levied and the MPS is .20, the:
A. saving schedule will shift upward by $5 billion.
B. consumption schedule will shift downward by $25 billion.
C. consumption schedule will shift downward by $20 billion.
D. consumption schedule will shift upward by $25 billion.
C. consumption schedule will shift downward by $20 billion.
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Which of the following statements is true?
a. The U.S. Treasury deals in newly issued bonds and the Fed deals in previously issued (second-hand) bonds. b. The U.S. Treasury deals in previously issued bonds and the Fed deals in newly issued bonds. c. The U.S. Treasury deals in only newly issued bonds and the Fed deals in both new and second-hand bonds. d. The U.S. Treasury deals in both new and second-hand bonds and the Fed only deals in second-hand bonds. e. Both the U.S. Treasury and the Fed deal in both new and second-hand bonds.
Most markets in the economy are highly competitive
a. True b. False Indicate whether the statement is true or false
What is a tariff?
a specific limit on the quantity of an import (import quota) a specific limit on the quantity of an export a tax on an import a government subsidy that pays part of the exporter's production costs
Answer the following questions true (T) or false (F)
1. Accounting costs exclude implicit costs. 2. If a firm is producing no output in the short run, then its total costs are zero. 3. In the short run, changes in output can only be brought about by a change in the quantity of variable inputs.