Whenever government spending is a substitute for private spending
A. the effects of expansionary fiscal policy are dampened.
B. the Ricardian equivalence theorem holds.
C. there is a direct multiplier effect.
D. interest rates will rise.
Answer: A
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If a single person has a standard deduction of $6,300, itemized deductions of $6,650, and a personal exemption of $4,000, then the first ________ of income is federal income tax free.
A. $10,300 B. $10,650 C. $16,950 D. $12,950
Proprietor's income is not considered part of national income
Indicate whether the statement is true or false
When individual supply curves shift, ceteris paribus, the market supply curve shifts.
Answer the following statement true (T) or false (F)
Process innovation can be depicted as:
A. an upward shift in a firm's total product curve. B. an upward shift in a firm's marginal cost curve. C. a downward shift in a firm's marginal revenue curve. D. an increase in product demand.