The MR schedule can be obtained from the TR schedule by:
a. adding two successive values in the TR schedule.
b. subtracting the succeeding TR value from the preceding TR value.
c. subtracting the preceding TR value from the succeeding TR value.
d. multiplying two successive TR values.
e. dividing the succeeding TR value by the preceding TR value.
c
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During the 20th century, the highest savings rates in the U.S. were observed during
A) the Great Depression. B) World War II. C) the late 1980s and 1990s. D) none of the above.
Which of the following does not qualify as an automatic stabilizer in the economy?
a. Lump-sum taxes b. Food stamps c. Welfare payments d. Progressive income taxes e. Unemployment compensation
Between 1981and 2003, government spending as a percentage of GDP
a. remained fairly constant at approximately 10 percent b. remained fairly constant at approximately 33 percent c. decreased from approximately 30 percent to 15 percent d. increased from approximately 15 percent to 30 percent e. increased from approximately 30 percent to 65 percent
John Maynard Keynes argued that the creation of wealth is properly the concern of government , not the concern of individuals .
A True B False