An increase in corporate income taxes would reduce
A. national income.
B. personal income.
C. gross domestic product.
D. net domestic product.
Answer: B
You might also like to view...
Refer to Table 4-3. For whom is the good a normal good?
Table 4-3
Price | Bert’s | Ernie’s | Grover’s | Oscar’s |
$0.00 | 20 | 16 | 4 | 8 |
$0.50 | 18 | 12 | 6 | 6 |
$1.00 | 14 | 10 | 2 | 5 |
$1.50 | 12 | 8 | 0 | 4 |
$2.00 | 6 | 6 | 0 | 2 |
$2.50 | 0 | 4 | 0 | 0 |
a. This cannot be determined from the table.
b. Grover only
c. Bert only
d. Bert, Ernie, Grover, and Oscar
Relative to a no-trade situation, if the United States imported jeans, the U.S. domestic price of jeans would
a. rise, but domestic output would fall. b. decline, but domestic output would rise. c. decline as would domestic output. d. rise as would domestic output.
The wedge between the buyers' price and the sellers' price is the same, regardless of whether the tax is levied on buyers or sellers
a. True b. False Indicate whether the statement is true or false
Foreign currency exchanges and interest payments on foreign debt are examples of:
A. financial flows. B. trade flows. C. capital flows. D. technology flows.