The Keynesian link between the money market and the goods and services market is __________. Changes in the money market must affect the __________ market before the goods and services market is affected
A) direct; credit
B) indirect; labor
C) indirect; investment goods
D) direct; stock
E) none of the above
C
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What would happen to the budget line if income increases by the same percentage as the price of the two goods decreases (that is income up by, say, 10 percent and the prices down by 10 percent)?
A. A rightward parallel shift in the budget line B. A leftward parallel shift in the budget line C. An upward pivot of the budget line D. The budget line is unaffected
Which of the following is among the arguments in favor of using government intervention to reduce income inequality?
A. Large income differences eventually lead to political strife and will undermine support for a market economy. B. Government intervention is more effective in promoting creativity and hard work than the hope of higher earnings. C. The income distribution statistics understate inequality because they fail to take economic mobility into account. D. Taking money away from individuals who have earned it is unfair and immoral.
________ seem as a group to be mildly regressive and ________ seem as a group to be mildly progressive.
A. State and local taxes; federal taxes B. Local taxes; federal and state taxes C. Federal taxes; state and local taxes D. Federal and state taxes; local taxes
Promises to quell logrolling for pet projects that were made by Democrats during the 2006 election
A. were thoroughly repudiated once the election was over. B. have been faithfully honored. C. have not been honored, so that pet projects could be used to induce support for other priorities. D. have been declared unconstitutional by the U.S. Supreme Court.