State and local governments rely on ________ as their primary source of tax receipts
A) personal taxes
B) contributions for social insurance
C) indirect business taxes
D) corporate taxes
C
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To be effective, an import quota must
a. reduce the price and increase the quantity of imports b. set the price of the imported good higher than the domestic equilibrium price c. restrict imports to less than would be imported under free trade d. restrict imports to less than exports in trade with that particular country e. be directed at the product of a specific country
Social Security is an example of
a. a transfer payment b. a Federal Reserve mandate c. a block grant d. private insurance e. debt interest
Fixed exchange rates are fixed by
A. international speculators who manipulate the world’s currencies. B. international demand and supply. C. national governments. D. All of the above are correct.
If the economy is on the steep portion of the AS curve and taxes decrease, ________ crowds out ________.
A. government spending; planned investment B. planned investment; consumption C. planned investment; government spending D. consumption; planned investment