_____ when net taxes are reduced
a. Net exports decrease
b. Government purchases remain constant
c. Government purchases rise
d. Consumption falls
e. Consumption rises
e
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The primary objective of an imperfectly competitive firm is to:
A. maximize total revenue. B. charge the highest possible price. C. minimize total cost. D. maximize profit.
Refer to Table 19-7. Suppose that a simple economy produces only four goods and services: iPods, t-shirts, bottled water, and oranges. Calculate nominal GDP for this simple economy
What will be an ideal response?
Profits
a. are what remains from the selling price after factors have been paid. b. accrue to entrepreneurs. c. are lower than most people think. d. All of the above are correct.
Primary credit extended by the Fed is:
A. the highest interest rate loans offered by the Fed. B. loans offered at the prime interest rate for periods exceeding thirty days but less than one year. C. for banks needing long-term loans to work out financial problems. D. short-term, usually overnight loans.