Which of the following does not support the concept of an economic agent? (Check all that apply.)
A. Groups are considered as a single decision maker.
B. All economic agents are individuals.
C. Their decisions do not have an effect on the economy of a country.
D. They make decisions by solving choice problems.
B. All economic agents are individuals.
C. Their decisions do not have an effect on the economy of a country.
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Explain how the current U.S. tax system levies taxes on capital gains and earned interest. What does this mean for the costs of inflation?
What will be an ideal response?
Which of the following countries has the least degree of measured income inequality?
a. India b. Brazil c. Mexico d. United States
If the U.S. imposed an import quota on corn, then in the U.S
a. exports and imports would rise. b. exports and imports would fall. c. exports would rise and imports would fall. d. exports would fall and imports would rise.
Tax-exempt bonds:
A. generate higher returns for the bondholder when purchased through a tax-exempt retirement account. B. are most beneficial to those who pay higher income tax rates. C. are not affected by changes in yields on taxable bonds. D. include U.S. Treasury securities because the Internal Revenue Service does not charge income tax on interest earned from these bonds.