The income people receive for supplying such things as land, labor, or capital
a. standard of living
b. privatize
c. economic system
d. self-interest
e. factor payments
Ans: e. factor payments
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A deficit is defined as
A) the excess of total revenues over total expenditures. B) the sum of all past borrowing by the government. C) the excess of total expenditures over total revenues. D) government spending plus transfer payments.
The question "Is the U.S tax system disproportionate enough?" is a ________ question, and the question "How would higher taxes make the rich behave?" is a ________ question
A) normative; normative B) normative; positive C) positive; normative D) positive; positive
Interest deductibility does not provide an incentive for debt finance.
A. True B. False C. Uncertain
Felix always consumes exactly four cookies with a glass of milk. Felix's indifference curves for cookies and milk would be:
A. linear. B. L-shaped. C. convex. D. positively-sloped.