Which of the following is not a determinant of autonomous consumption?
A. Taxes.
B. The price level.
C. The availability of credit.
D. The disposable income level.
Answer: D
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Trade between countries should be
A) encouraged for developed countries but not for developing countries. B) encouraged for both developed and developing countries. C) discouraged for developed countries but encouraged for developing countries. D) discouraged for both developed and developing countries.
A government budget deficit is financed by a combination of
A) saving rising relative to domestic investment and imports rising relative to exports. B) saving rising relative to domestic investments and exports rising relative to imports. C) domestic investment rising relative to saving and imports rising relative to exports. D) domestic investment rising relative to saving and exports rising relative to imports.
In the Keynesian system, an increase in the money stock would
a. increase the interest rate, which, in turn, would increase aggregate demand and income. b. decrease the interest rate, which, in turn, would decrease aggregate demand and income. c. decrease the interest rate, which, in turn, would increase aggregate demand and income. d. decrease the interest rate but would have no effect on aggregate demand and income.
Which of the following statements does not apply to the U.S. tax structure?
A. The individual income tax system is progressive. B. General sales taxes are regressive. C. Property taxes are an important source of revenue for the federal government. D. The major sources of revenue for the federal government differ from the major sources of revenue for state and local governments.