Of all the taxes collected in the U.S. economy, what percentage is collected by the federal government?
about two-thirds
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Aside from being a means of payment, the other functions of money are
A) medium of exchange and the ability to buy goods and services. B) medium of exchange, unit of account, and means of lending. C) pricing, contracts, and store of value. D) medium of exchange, unit of account, and store of value.
The small town of Narberth has two pizza stores. Which of the following statements are CORRECT?
I. The profits of each store depend on the price of the pizza at the other store. II. Both stores would increase their profit if they cooperated in setting their prices. A) I only B) II only C) Both I and II D) Neither I nor II
The above figure shows the market for neckties after the government has imposed a tax. How much deadweight loss results from this tax?
A) $250.00 B) $200.00 C) $150.00 D) $50.00
Planned aggregate expenditure is equal to
A) consumption spending plus planned investment spending. B) consumption spending plus planned investment spending plus government purchases plus net exports. C) planned investment spending only. D) consumption spending only.