In the United States, taxpayers are allowed to exclude from taxation a certain amount of income, called
A) the personal income exclusion. B) the personal exemption.
C) the income tax credit. D) the income allowance.
B
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In the recent Global Economic Crisis, the growing unwillingness of banks and non bank financial institutions to grant loans caused
A) LM curve to shift to the right. B) LM curve to shift to the left. C) IS curve to shift to the left. D) LM curve to shift to the right.
The ratio between the percentage change in the quantity demanded (Qd) or supplied (Qs) and the corresponding percentage change in price is called:
a. price elasticity. b. cost elasticity. c. demand elasticity. d. supply elasticity.
The inspection of securities on hand should be coordinated with the verification of inventories because both involve counting and inspection and can conveniently be combined.
a. true b. false
Assume a DVC has a real per capita output of $1,000 as compared to $20,000 for an IAC. If both nations realize a 4 percent growth of their real per capita outputs, after one year the absolute real per capita output gap will:
A. remain unchanged at $19,000. B. increase by $760. C. decrease by $1,000. D. increase by $19,760.