The consumption function becomes steeper as the income tax rate decreases because a decrease in the income tax rate:
a. increases the disposable income available to the consumer.
b. decreases the disposable income available to the consumer.
c. increases the marginal propensity to save
d. increases the wealth of the consumer.
a
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Which of the following statements is incorrect? a. Demand and supply curves for labor are constantly shifting
b. The typical unemployment compensation in the United States is one's full salary for up to 26 weeks. c. Unemployment compensation decreases the opportunity cost of being unemployed to a worker. d. Unemployment compensation encourages longer job searches, which may lead to a better match between jobs and employees.
A growth recession occurs when
a) there are two successive quarters of negative GDP growth b) economic growth is so rapid that it creates inflation c) real GDP is growing but nominal GDP is not d) potential GDP declines e) GDP grows at a slower rate than its long run trend
An agency is having problems with personal phone calls made during working hours. Each minute of a personal call costs the agency $0.50 in wasted wages. The agency hires operators to monitor calls in order to attain the optimal number of personal calls (minimize total cost of personal calls). 
Based on the above information, what is the most the agency would be willing to pay the first operator?
A. $480 B. $300 C. $120 D. $240 E. none of the above
What are the main characteristics of modern economic growth? What is the effect of modern economic growth on the cultural, social and political arrangements of our times?
What will be an ideal response?