Of the following, the federal government's largest source of revenue is the
A) sales tax.
B) property tax.
C) corporate income tax.
D) Social Security tax.
E) transfers from state and local governments.
D
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Suppose that Alyssa spends all her income on video games and DVDs and her marginal utility per dollar from video games equals that from DVDs. Is Alyssa maximizing her utility? Now, suppose that the price of a DVD falls
Should Alyssa change the combination of goods she consumes? If yes, how? Explain.
"More people purchase chap stick when the weather man announces that we are in for a very windy week." This statement implies that:
A. buying Chap Stick causes it to be windy. B. people plan on kissing more on windy days. C. buying Chap Stick is positively correlated with the announcement of a windy week. D. the weather man is getting a kickback from the makers of Chap Stick.
If the price of Chinese food decreases, then the demand for chopsticks decreases because they are complementary goods
Indicate whether the statement is true or false
Government spending that shifts income from one group of society to another, such as price subsidies and cash payments, is known as
a. merit goods spending b. debt servicing c. transfer payments d. countercyclical payments e. social spending