The threat of a large fine for failure to pay income taxes is an example of
A. a negative incentive to get all people to pay taxes.
B. the ineffectiveness of incentives to get people to pay their taxes.
C. the excessive power of the Internal Revenue Service.
D. people failing to consider all the benefits the government provides them.
Answer: A
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The demand for cat food decreases while the supply increases. The equilibrium price of cat food ________, and the equilibrium quantity ________
A) does not change; increases B) rises; decreases C) falls; perhaps changes but we can't say if it increases, decreases, or stays the same D) rises; perhaps changes but we can't say if it increases, decreases, or stays the same E) falls; increases
In the above figure, the economy initially is at point C. Then the domestic price level rises by 10. A
A) substitution effect would help move the economy to point D. B) substitution effect would help move the economy to point B. C) substitution effect would keep the economy at point C. D) wealth effect would help move the economy to point B.
A liquidity provider is someone who:
A. helps make a market more liquid by being always ready to buy or sell an asset. B. works at a bank and specializes in loans. C. works in the financial system. D. invest in the economy.
Monetary policy refers to the actions the Federal Reserve takes to manage
A) the money supply and income tax rates to pursue its economic objectives. B) the money supply and interest rates to pursue its economic objectives. C) income tax rates and interest rates to pursue its economic objectives. D) government spending and income tax rates to pursue its economic objectives.