Refer to the graph below. When total revenue declines as output expands, demand is:

Wages paid to teachers, police personnel, and postal workers are not transfer payments because they are payments for services and not simply "transfers" of money

Indicate whether the statement is true or false

The interest income earned on most municipal bonds in the United States is tax exempt. Thus, for such municipalities

A) the level of public investment projects is lower than it would be otherwise. B) municipal tax revenues are higher than they would be otherwise. C) the user cost of cost capital is lower than it would be otherwise. D) All of the above are correct.