AGI always exceeds taxable income.
A. True
B. False
C. Uncertain
C. Uncertain
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Answer the next question on the basis of the following demand schedule.PriceQuantity Demanded$615243342516If this demand schedule were graphed, we would find that
A. its slope diminishes as we move southeast down the curve. B. its slope is constant throughout. C. its slope diminishes as we move northwest up the curve. D. the data are inconsistent with the law of demand.
Suppose the United States spends more on foreign goods and services than foreigners spend on our goods and services and the United States sells no foreign assets. Then the
A) United States must borrow an amount equal to national saving. B) United States must borrow an amount equal to imports minus exports. C) rest of the world may or may not finance the U.S. trade deficit. D) United States must borrow an amount equal to consumption expenditure plus investment.
Which of the following is true of interest-rate risk?
A. It refers to the probability that a borrower will default on debt obligations. B. It is the risk that the coupon rate for a bond will change, affecting current bondholders' coupon payments. C. Individuals owning long-term bonds are exposed to greater interest-rate risk. D. It is the risk that the face value of a bond will change before maturity.
Refer to the graph below. Assume the economy is at the initial position of B2. An increase in aggregate demand with no corresponding change in inflation expectations and wage rates will tend to:
A. Temporarily move the economy to point B3
B. Temporarily move the economy to point C2
C. Temporarily move the economy to point C1
D. Have no effect in shifting the economy from point B2