Compared to a valued added tax, a sales tax is _____
a. easier to monitor
b. easier to apply to investment goods
c. harder to collect
d. all of the above
e. a and b
e
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What act of Congress declared restraint of trade illegal and declared any attempt at monopolizing unlawful?
a. the Celler-Kefauver Anti-Merger Act b. the Sherman Antitrust Act c. the Clayton Act d. the Wheeler-Lea Act e. the Clayton-Celler Act
Since the 1970s, the percentage of total income earned by the poorest 20 percent of American families has fallen
a. True b. False Indicate whether the statement is true or false
If aggregate demand turns out to be higher than what was anticipated in an economy, then:
a. the economy experiences a contractionary gap. b. the short-run equilibrium occurs at the potential output. c. the short-run equilibrium occurs at an output level lower than potential output. d. the short-run equilibrium occurs at an output level higher than potential output.
The following provides data for an economy in a certain year. Consumption expenditures$50Imports$40Government purchases of goods and services$20Construction of new homes and apartments$30Sales of existing homes and apartments$40Exports$50Government payments to retirees$10Household purchases of durable goods$20Beginning-of-year inventory$10End-of-year inventory$20Business fixed investment$30Given the data, compute the investment component of GDP.
A. $70 B. $30 C. $40 D. $60