What type of tax affects the amount of money you pay for a product?
A. income tax
B. indirect tax
C. direct tax
D. all of the above
Answer: B
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If the marginal propensity to consumer is 0.8, the spending multiplier must be:
A. 5 B. 2 C. 1.2 D. 1.8
If the demand for a good decreases as income decreases, then the good is a(n):
A. complementary good. B. substitute good. C. inferior good. D. normal good.
Because loans to small and midsized businesses are rather __________, they have been relatively __________ to securitize
A) standardized; easy B) standardized; difficult C) not standardized; easy D) not standardized; difficult
When a permanent negative supply shock hits the economy, a permanently ________
A) lower equilibrium level of output ensues if the central bank raises interest rates B) lower equilibrium level of output ensues if the central bank does not respond C) higher equilibrium level of inflation ensues if the central bank does not respond D) all of the above E) none of the above