The federal government receives most of its revenue from personal income taxes and payroll taxes
a. True
b. False
Indicate whether the statement is true or false
True
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If you liquidate $3,000 of your mutual fund and transfer the funds to your checking account, then initially, M1 will ________ and M2 will ________
A) increase; decrease B) increase; not change C) not change; not change D) not change; decrease
The current cost of a market basket of goods is $9,000 . The cost of the same basket of goods in the base year was $3,000 . The current price index is:
a. 900. b. 300. c. 166. d. 33.
Legislation to protect red-cockaded woodpeckers created incentives that resulted in premature harvesting of trees the woodpeckers like to nest in. This is an example of which of the following?
a. Association is not causation. b. the fallacy of composition c. the use of ceteris paribus conditions in economic analysis d. Good intentions do not always lead to desirable outcomes.
Which of the following is a widely used measure of the standard of living?
(a) Nominal output per person employed; (b) Nominal output per head of population; (c) Real income per head of population; (d) Real output per unit of capital.