Scarcity means we must:
A) consume less.
B) produce less.
C) make choices.
D) earn more.
E) work more
C) make choices.
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Statutory incidence of a tax deals with
A. the amount of revenue left over after taxes. B. the amount of taxes paid after accounting for inflation. C. the person(s) legally responsible for paying the tax. D. the amount of tax revenue generated after a tax is imposed.
In the traditional Keynesian model, if the government cuts current taxes
A) the C + I + G + X line will shift down but the aggregate demand curve will not shift. B) the C + I + G + X line will shift down and the aggregate demand curve will shift to the left. C) the C + I + G + X line will shift up and the aggregate demand curve will shift to the right. D) the C + I + G + X line will shift up but the aggregate demand curve will not shift.
Total revenue is the amount:
A. of sales that get reinvested in the firm. B. a firm receives from the sale of goods and services. C. a firm receives from dividends. D. a firm keeps after all expenses are paid.
If a straight line passes through the point x = 14 and y = 3 and also through the point x = 4 and y = 10, the slope of this line is
A) negative 11 divided by 6. B) seven-tenths. C) negative seven-tenths. D) 6 divided by 11.