For all but the highest quintile, the share of market income going to each quintile is
A. higher for after-tax income than for before-tax income.
B. equal for after-tax income but unequal for before-tax income.
C. lower for after-tax income than for before-tax income.
D. unequal for after-tax income but equal for before-tax income.
Answer: A
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An increase in taxes has the following impact on the budget constraint
A) a parallel move down. B) a parallel move up. C) a tilting to the left. D) a tilting to the right.
Suppose Emilio offers you $500 today or $X in 10 years. If the interest rate is 6 percent, then at what value of X would you be indifferent between the two options?
a. X = 809.33 b. X = 855.56 c. X = 895.42 d. X = 916.74
Suppose that the government implements expansionary fiscal policy that raises aggregate demand, but the policy is unanticipated. According to new classical theory, in the short run the price level would ____________ and Real GDP would ______________. In the long run, new classical theory would predict that the price level would ______________ compared to its original long-run equilibrium level
and that Real GDP would ____________. A) rise; decline; rise; remain unchanged B) rise; rise; rise; remain unchanged C) rise; decline; remain unchanged; rise D) fall; rise; remain unchanged; rise
Suppose a jar of orange marmalade that is ultimately sold to a customer at The Corner Store is produced by the following production process: Name of CompanyRevenuesCost of Purchased inputsCitrus Growers Inc.$0.750Florida Jam Company$2.00$.75The Corner Store$2.50$2.00If the oranges were grown and the jam produced in the year 2015, but the marmalade was sold at The Corner Store in the year 2016, what is the contribution of these transactions to GDP in the year 2015?
A. $2.50 B. $2.75 C. $2.00 D. $1.25