The effect of a change in net taxes on the quantity of real GDP demanded equals the resulting shift in the consumption function times _____
a. the marginal propensity to consume
b. the marginal propensity to save
c. the autonomous net tax multiplier
d. the simple spending multiplier
e. the marginal tax rate
d
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How would a regulator of a monopoly think differently about regulating price discrimination depending on whether the regulator's objective is to maximize efficiency or to maximize consumer surplus?
What will be an ideal response?
What is the rule for efficient output selection and how does the competitive market achieve it?
Which of the following is best explained with behavioral economics rather than traditional economics? a. How people purchase apples from a grocery store
b. How people make tradeoffs between labor and leisure c. How firms choose prices to maximize profits d. How people tend to be overconfident in certain situations
Most economists agree that, overall, U.S. antitrust policy has been most successful in:
A. Promoting competition and efficiency B. Remedying existing anticompetitive behavior C. Deterring price-fixing and anticompetitive mergers D. Breaking up monopolies