A local property tax is a tax on ________, while a tax on your salary is a tax on ________.
A. a flow; income
B. a residential holding; a flow
C. a flow; a stock
D. a stock; a flow
Answer: D
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Let S = y - (150 + 0.6y). Assume no government or foreign sectors. What is the consumption function?
A) C = 150 + 0.6y B) C = -150 - 0.6y C) C = 150 + 0.4y D) C = -150 + 0.4y
According to the AS-AD model, when real GDP exceeds potential GDP, the unemployment rate is definitely
A) less than the natural unemployment rate. B) greater than the natural unemployment rate. C) rising. D) falling. E) equal to the natural unemployment rate.
Which is the most accurate statement about the Personal Responsibility and Work Opportunity Act of 1996?
A. The decline in the welfare rolls since the mid-to-late 1990s was due entirely to this law. B. This law was directly responsible for throwing millions of the poor out on the street. C. The law validated President Clinton's promise "to put an end to welfare as we know it." D. The law had very little success in removing people from the welfare rolls.
A market with one buyer and one seller is a
A. Bilateral monopoly. B. Multiopoly. C. Bilateral monopsony. D. Multilayer monopoly.