Refer to Figure 4-18. How much of the tax is paid by producers?
A) $45 B) $8 C) $3 D) $2
D
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Discretionary fiscal policy is handicapped by
A) lawmaking time lags, induced taxes, and automatic stabilizers. B) lawmaking time lags, estimation of potential GDP, and economic forecasting. C) economic forecasting, lawmaking time lags, and induced taxes. D) automatic stabilizers, lawmaking time lags, and potential GDP estimation. E) automatic stabilizers, the multipliers, and potential GDP estimation.
Tom and Jerry are the only members of society. The table above shows their marginal benefits from defense satellites, a public good. What is the marginal benefit to society from the third satellite?
A) $30 B) $27 C) $54 D) $6
The quantity theory of the demand for money states that a country's money demand is proportional to
A. the domestic interest rate. B. the exchange rate. C. the money value of gross domestic product. D. the level of domestic consumption.
To pay back Social Security loans, Congress could do all of the following except
A. Reduce spending on non-Social Security programs. B. Increase budget deficits. C. Sell fewer U.S. Treasury bonds. D. Raise future taxes.