Which of the following lists represent leakages from the circular flow?
a. Government purchases, net taxes and household saving.
b. Planned investment, net taxes and government purchases.
c. Household saving and planned investment.
d. Planned investment and net taxes.
e. Household saving and net taxes.
E
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Which statement is true?
A. A person earning $100,000 pays $10,000 in payroll tax. B. Most taxpayers pay more in payroll tax than in personal income tax. C. The Medicare tax rate is 6.2%. D. There is no such thing as a regressive tax.
Which of the following conclusions is not supported by the Three-Sector-Model?
a. A decrease in borrowing causes the real risk-free interest rate to fall and equilibrium quantity of real loanable funds to fall. b. An increase in the supply of a nation's real loanable funds reduces the real risk-free interest rate and increases the equilibrium quantity of real loanable funds. c. An increase in a nation's demand for goods and services within the intermediate range results in an increase in the real GDP and a lower GDP Price Index. d. An increase in the value of a nation's currency encourages domestic imports and discourages exports. e. All of the above are supported by the Three-Sector Model.
Compared to the 1950-1973 period, output per worker ________ in the 1974-1995 period.
A. decreased more rapidly B. increased more slowly C. increased more rapidly D. decreased more slowly
Which is the best example of a firm's implicit costs?
A) wages B) the opportunity cost of owner-provided labor C) rent D) taxes