When there is a recession, the biggest percentage decline would be in
A. social Security tax receipts.
B. personal income tax receipts.
C. consumer spending.
D. corporate after-tax profits.
D. corporate after-tax profits.
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A Prisoner's Dilemma game is one in which not cooperating is a dominant strategy despite cooperation making everyone better off. ?
Answer the following statement true (T) or false (F)
The main purpose of the Laffer curve is to crudely suggest
A. how government can increase tax revenues by increasing tax rates. B. that a tax cut will lead to an increase in GDP. C. the disincentive effects of high marginal tax rates. D. the tax rate which will yield maximum revenue for the government.
Which of the following U.S. economic periods was characterized by a negative expenditure multiplier?
a. the period following World War II b. the period following the introduction of Reaganomics c. the dot-com boom d. the period following the financial crisis of 2008
Traveler's checks are included in M1 but not in M2
Indicate whether the statement is true or false