The fictional country of Alpetra increases the income tax rate so that tax revenues increase by $30 million. In response, consumption falls by $8 million. If GDP and government spending remains the same and Alpetra is a closed economy, what is the change in investment?

Important steps in the growth of the wage-labor system of the North in the early 19th century include which of the following?

(a) The advancement of many of the old skilled crafts and apprenticeship systems by the factory system (b) The fall in the demand for unskilled labor created by transportation improvements (c) The complication of work tasks in the factory, which allowed the use of women and child labor (d) Large-scale migration to the U.S. of relatively unskilled workers who sought jobs in the cities and factories

Which of the following statements is true?

A. There was a great deal of stagflation in the 1930s. B. The inflation rate fell during the Eisenhower Administration, but rose during the Reagan years. C. Output in the United States fell by about one-third between 1929 and 1933. D. The Medicare and Medicaid programs were inaugurated during the New Deal.