Which of the following is NOT correct?
a. Many economist oppose increases in how much people save.
b. Saving is an important long-run determinant of a nation's standard of living.
c. A change in tax laws that encouraged greater saving would lower interest rates.
d. Taxes on interest income can substantially decrease the future value of current saving.
a
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Salvador grows orchids to sell to local florists. When Salvador began raising his current crop of 1,000 orchids, he could sell them for $20 per plant, and he incurred shipping costs of $3 per plant. His cost of raising orchids is $8 per plant
When his crop was ready to ship, florists were only paying $9 per plant. Use marginal analysis to determine Salvador's best course of action given the drop in the price of orchids.
Explain how an equilibrium is achieved in the Keynesian cross diagram
If we consider the quantity theory of money and Professor Irving Fisher, who did a lot of his work in the early 20th century, why might Professor Fisher feel less confident about predicting constant velocity of money today than when he did his work?
What will be an ideal response?
Which of the following will increase the supply of vanilla ice cream?
a. an increase in the price of vanilla beans (an ingredient in ice cream) b. a decrease in the sales tax on restaurant bills c. an increase in the price of chocolate ice cream d. a decrease in the price of milk (an ingredient in ice cream) e. an increase in the price of hot fudge