The term "induced taxes" refers to...
What will be an ideal response?
the rise in taxes due to a rise in GDP
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You like bundle A better than bundle B, and bundle C is an average between A and B. If your tastes satisfy convexity, then C is at least as good as A and as B.
Answer the following statement true (T) or false (F)
In a monopolistically competitive market with Dixit-Stiglitz preferences, the number of firms in the differentiated product market falls as goods in that market become less substitutable.
Answer the following statement true (T) or false (F)
One existing government program that works much like a negative income tax is the Earned Income Tax Credit
a. True b. False Indicate whether the statement is true or false
If consumption increases by $9 when disposable income increases by $10, the marginal propensity to consume (mpc) equals:
A. 9.0. B. 0.9. C. 1.0. D. 0.1.