From the passage of the 16th amendment to the U.S. Constitution, income taxes became the primary source of income for the United States.
Answer the following statement true (T) or false (F)
False
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Unlike brokers, securities dealers
A) operate in secondary markets. B) risk capital losses. C) trade "used" securities. D) operate in primary markets.
The nation has its own MPC. When disposable income increases from $300 billion to $400 billion, national consumption increases from $300 billion to $360 billion. At Y = $400 billion, the MPC is:
a. 0.2. b. 0.5. c. 0.6. d. 0.67. e. 1.33.
Government consumption includes all
A. salaries paid to factory workers. B. fuel for nuclear submarines. C. pencils bought by a private university. D. cola served in a company cafeteria.
For the recessions in the United States since the 1950s
A) cyclical unemployment has been nonexistent. B) unemployment rises on average by about 1.2 percentage points during the 12 months after a recession begins. C) unemployment falls on average by 2 percentage points during the 12 months after a recession begins. D) unemployment rises on average about 5 percentage points during the 12 months after a recession begins.