State governments receive half of their tax revenue from property taxes.
Answer the following statement true (T) or false (F)
False
State governments rely heavily on sales taxes, while cities depend heavily on property taxes.
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Use the following graph to answer the next question.
In the figure, AD1 and AS1 represent the original aggregate supply and demand curves. If Q1 is full-employment output, then the long-run aggregate supply curve is located at output level ________.
A. Q2 B. Q1 C. Q3 D. None of these choices are correct.
As the Federal Trade Commission currently interprets the Herfindahl-Hirschman index (HHI), an industry is considered to be highly concentrated if the HHI value is above
A) 100. B) 1,000. C) 2,500. D) 5,000.
Decisions by depositors to increase their holdings of ________, or of banks to hold ________ will result in a smaller expansion of deposits than the simple model predicts
A) deposits; required reserves B) deposits; excess reserves C) currency; required reserves D) currency; excess reserves
The two components of a consumption curve are induced consumption and
a. permanent consumption b. transitory consumption c. durable consumption d. autonomous consumption e. external consumption