In effect, a consumption tax would put all saving automatically into a tax-advantaged savings account similar to an Individual Retirement Account (IRA)

When federal government expenditures exceed tax receipts, the Treasury must

A) expand the money supply. B) raise taxes. C) reduce spending. D) sell bonds.

If, in the game in Scenario 13.14, R moves first, it will select

A) Q = 50. B) Q = 100. C) Q = 150. D) a mixed strategy over the three choices that includes some positive likelihood for each Q. E) a mixed strategy over the choices Q = 50 and Q = 100.