Net taxes equal total taxes:
A. plus public saving minus private saving.
B. minus public saving minus private saving.
C. minus transfer payments plus government interest payments.
D. minus transfer payments minus government interest payments.
Answer: D
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In the figure above, an increase in the monetary base would create a change such as a
A) movement from point a to point b along the supply of money curve MS0. B) movement from point b to point a along the supply of money curve MS0. C) shift from the supply of money curve MS0 to the supply of money curve MS1. D) shift from the supply of money curve MS1 to the supply of money curve MS0.
The contract curve:
A. shows the unique Pareto efficient allocation of a pair of goods in an Edgeworth box. B. shows every inefficient allocation of consumption goods in an Edgeworth box. C. passes through the tangencies between pairs of indifference curves in an Edgeworth box. D. passes through every intersection between pairs of indifference curves in an Edgeworth box.
"Income received by households before payment of personal taxes" is known as
A. Personal income. B. Disposable income. C. Saving. D. Net domestic product.
When efficiency is attained, the consumer surplus
A) must be larger than the producer surplus. B) must be smaller than the producer surplus. C) must equal the producer surplus. D) can be either smaller than or larger than but cannot equal the producer surplus. E) can be smaller than, equal to, or larger than the producer surplus.