An income tax distorts the choice between present and future consumption.
Answer the following statement true (T) or false (F)
True
Economics
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Use the following circular flow diagram to answer the question below.
If box A represents businesses or firms, B the resource market, and C households, and if flow (7) represents goods and services, then flow (6) would represent
A. consumption expenditures. B. goods and services. C. money income. D. resources.
Economics
The government is most involved in economic decisions in a country with a ______ economy.
a. mixed b. command c. market d. traditional
Economics
When disposable income is 2000, how much is consumption?
Economics
Which of the following is NOT part of the "four-legged stool" of retirement income?
A. Individual savings B. Employer retirement plans C. Social Security D. Full-time work
Economics