The top marginal rate of the federal personal income tax was lowered under the administration of
A. Gerald Ford.
B. Jimmy Carter.
C. Ronald Reagan.
D. Richard Nixon.
C. Ronald Reagan.
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A form of implicit collusion in which one firm consistently follows the actions of another firm is:
A) predatory pricing. B) a Webb-Pomerene association. C) parallel conduct. D) only illegal in Europe.
If two goods are substitutes in consumption, a(n):
a. decrease in the price of one product will cause an increase in the demand for the other product. b. decrease in the price of one product will cause a decrease in the demand for the other product. c. increase in the price of one product will cause an increase in the supply of the other product. d. increase in the price of one product will cause a decrease in the supply of the other product. e. increase in the price of one product will cause a decrease in the demand for the other product.
Assume that C = $1,500 + 0.80(Y) and intended investment = $500 . Then the equilibrium level of national income is
a. $24,000 b. $20,000 c. $19,000 d. $15,000 e. $10,000
Injections include
A. Consumer saving. B. Taxes. C. Business saving. D. Exports.