The tax represented here is
A. progressive.
B. proportional.
C. regressive.
D. None of these choices
A. progressive.
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Which of the following will shift the aggregate demand curve to the right?
A. Income taxes are raised. B. Business managers become pessimistic about the future. C. Consumers become pessimistic about the future. D. The government increases spending on education.
All economies must make decisions concerning what to produce, how to produce it, and for whom to produce.
Answer the following statement true (T) or false (F)
When there is an excess quantity supplied
A. quantity demanded is greater than quantity supplied. B. quantity demanded is less than quantity supplied. C. the market is in equilibrium. D. prices will remain stable.
The two sectors of the economy in the simple circular flow model are
A. households and businesses. B. foreign markets and domestic markets. C. the private sector and the public sector. D. the employed and the unemployed.