The government redistributes income to the poor, primarily through
A. regressive taxes and disability payments.
B. transfer payments and progressive taxes.
C. government purchases.
D. higher wages.
Answer: B
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If you want to know the present value of a future payment received in one year, what formula can you use?
A) Present value equals future payment divided by one plus the rate of interest. B) Present value equals future payment times the current market rate of interest. C) Present value equals future payments times one plus the rate of interest. D) Present value equals one plus the rate of interest in decimals divided by future payment.
What is the formula for the aggregate demand curve?
a. S + T + I + X – M b. C + T + G + X – M c. C + I + G + X – M d. S + I + G + X – M
Checks written by the firm and not yet cleared represe
a. payment float b. availability float c. net float d. cash in hand e. none of these
What happens when a product is path dependent?
a. The technology used to produce the product has a specific growth path. b. The product can sell for a higher price when it is new and there are no similar products consumers can buy than when it is older and consumers can choose to buy substitutes for the product. c. The cost of switching to a product with a better technology gives the product with the initial technology an advantage. d. The path that a product follows depends on the firm that uses the best technology to produce it.