Looking at the trade-off between output and a cleaner environment, low-income countries usually would choose what?
a. Less output to feed and house their citizens
b. A cleaner environment even if it means the majority of their citizens staying poor
c. More output to feed and house their citizens
d. A cleaner environment for their citizens
c. More output to feed and house their citizens
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Suppose the economy has no income taxes or imports. How is the size of the expenditure multiplier related to the marginal propensity to consume? What is the multiplier if the MPC equals 0.25? If the MPC equals 0.50? If the MPC equals 0.90?
What will be an ideal response?
An example of tax smoothing is provided by evidence of
A) temporary changes in defense expenditures by the government. B) reductions in tax rates prior to presidential elections. C) Keynesian tax cuts designed to help the economy recover from a recession. D) reliance on debt financing rather than taxation during World War II.
From 1860 to 1910,
(a) The total population grew faster than the workforce. (b) National income grew faster than did total population. (c) The workday increased. (d) Foreign investment in the U.S. dropped continuously.
If a given value of x is associated with a particular value of y,
a. then x causes y b. then y causes x c. then x and y must be logically connected d. there are no other variables that affect the value of y e. there may be no causal relationship between x and y