A tax imposed on the part of income that households spend is known as a
a. luxury tax
b. flat tax
c. consumption tax
d. income tax
e. value tax
C
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Which of the following will result in a decrease in the price of an existing corporate bond?
A) lower expectations of inflation B) new bonds issued at a lower interest rate C) increased default risk D) all of the above
If we use the expenditure approach to measure GDP and the income approach to measure national income, we arrive at the same value
Indicate whether the statement is true or false
Which of the following is NOT a characteristic of monopolistic competition?
A. Some degree of control over price B. A tendency to rely on non-price competition C. A horizontal demand curve D. Some degree of product differentiation
In the IS-LM-PC model, investment does not depend on
A) T. B) Y. C) r. D) x.