If net taxes paid by households increase:
A. transfer payments to households will decrease.
B. private saving will decrease.
C. private saving will increase.
D. public saving will decrease.
Answer: B
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If a taxpayer itemizes deductions, then an exemption is worth the same as a deduction
a. True b. False
Critics of unions tend to focus on the fact that unions
A) tend to generate higher wages. B) reduce profits. C) are politically active. D) engage in restrictive labor practices.
In an oligopolistic market, if rival sellers act independently, each will have a strong incentive to
a. reduce price in order to increase sales and gain a larger share of the total market. b. increase price in order to get a larger share of the market and make larger profits. c. restrict output and raise price in order to achieve higher profits. d. maintain agreements to lower price and decrease product quality in order to earn higher profits.
A key component of the asset approach to exchange rates is being able to gauge accurately:
a. the price level. b. the rate of inflation. c. expected future exchange rates. d. the GOP gap.