Induced taxes are defined as taxes
A) that vary with real GDP.
B) enacted by Congress that explicitly state the amount to be paid.
C) we are forced to pay for services from the government.
D) that rise in recessions and fall in expansions.
E) that are avoided with the use of legal tax shelters.
A
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The more the short-run output exceeds an economy's potential, _____
a. the smaller the expansionary gap b. the greater the upward pressure on the price level c. the larger the recessionary gap d. the greater the downward pressure on the price level e. the lesser the demand for resources
If a country had a nominal GDP of $753 million, and the GDP deflator was 90, what is the real GDP?
a. $685 million b. $828 million c. $836 million d. $863 million
The sum of public and private saving in an economy is equal to
A) Y - C - T. B) T - TR - G. C) Y - C - G. D) I - C - G.
Private property was argued to be inappropriate by Marxists due to its distribution from those "who have" to those "who will have" in a fashion creating a class to itself
Indicate whether the statement is true or false