Most canals were economic failures
Indicate whether the statement is true or false
True
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Interest payments on the national debt are not a problem because we owe all of it to ourselves
Indicate whether the statement is true or false
Personal and corporate income taxes are automatic stabilizers because
a. they generate approximately the same revenues during prosperity and recession b. tax rates decrease more during prosperity than during recession c. tax rates increase more during prosperity than during recession d. they take more income out of the economy during prosperity than during recession e. they take less income out of the economy during prosperity than during recession
Price ceilings lead to market surpluses
a. True b. False Indicate whether the statement is true or false
When the price level rises, the number of dollars needed to buy a representative basket of goods
a. increases, and so the value of money rises. b. increases, and so the value of money falls. c. decreases, and so the value of money rises. d. decreases, and so the value of money falls