Which of the following is the most important source of tax revenue for state governments?
A. Personal income tax
B. Property taxes
C. Corporate income tax
D. Sales and excise taxes
Answer: D
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After the passage of the North American Free Trade Agreement, which made it less expensive to import goods from Mexico, workers in some industries found their factories being relocated to Mexico to take advantage of lower labor costs
These workers experienced what type of unemployment? A) cyclical B) trade C) foreign D) structural E) frictional
One result of asymmetric information in the market for used cars is that buyers benefit at the expense of sellers
a. True b. False
A change in the required reserve ratio changes: a. the amount of actual reserves in the banking system
b. the amount of excess reserves in the banking system. c. the value of government securities held by the Fed. d. the level of insurance for banks who are members of the FDIC.
Exhibit 15-1 Disposable income and consumption data Income (Y) Change inDisposable Income Consumption (C) 0 500 1,000 1,000 1,400 2,000 1,000 2,200 3,000 1,000 2,900 4,000 1,000 3,500 5,000 1,000 4,000 In Exhibit 15-1, when disposable income is increased from $2,000 to $3,000 to $4,000,
A. total consumption increases by $1,000. B. the marginal propensity to consume remains constant. C. the marginal propensity to consume decreases from 0.7 to 0.6. D. the marginal propensity to consume decreases from 0.8 to 0.7.