The effectiveness of any stimulus program depends on:
a. the nature of the tax only
b. the size of the tax and spending multipliers
c. the nature of the tax and tax multipliers
d. the income group targeted
e. the marginal propensity to consume only
b
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When we speak of the national debt, we refer to the federal government debt only
a. True b. False Indicate whether the statement is true or false
A quota is
A. a tax on exported items. B. a tax on imported items. C. a limit on the amount of imports. D. a subsidy to export.
The courts in some states have declared the financing of public schools by local property taxes unconstitutional because
A. housing should never be the basis for taxation of any kind. B. taxes on real estate generate too much tax revenue. C. disparity in property values means some communities have more in tax revenues to spend on education than do communities containing less valuable property. D. the funds for public education should come from federal revenues, not from local property taxes.
A risk-averse person's expected utility function is
A) decreasing. B) convex. C) concave. D) a straight line.