On December 17, 2010, President Obama extended income tax cuts initially enacted in 2001 and 2003 for two additional years
According to the permanent-income hypothesis, these tax cuts would represent ________ income and would have ________ on consumption. A) permanent; a significant impact
B) permanent; very little impact
C) transitory; a significant impact
D) transitory; very little impact
D
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Refer to Figure d, which illustrates a game played by Travis and Darren. Darren's dominant strategy is:
A. East.
B. West.
C. neither East nor West because East is only weakly dominated.
D. both East and West.
International trade can have important effects on the distribution of income because
A) some resources are immobile in the short run.
B) of government corruption.
C) the more powerful country dictates the terms of trade.
D) rich countries take advantage of poor countries.
E) different countries use different currencies.
Checks and currency function similarly, however:
A. currency is a more effective means of payment. B. checks are not included in measures of money, whereas currency is. C. currency is a better store of value than checking deposits. D. carrying currency entails greater risk, because it cannot be replaced if lost or stolen.
Discuss the relationship between U.S. competitiveness relative to other countries and standards of living in the United States
What will be an ideal response?