Equilibrium in the goods market occurs where
A) real GDP equals nominal GDP.
B) aggregate expenditure equals autonomous consumption.
C) autonomous consumption equals induced consumption.
D) aggregate expenditure equals real GDP.
D
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Capital gains are taxed at a different rate than income and this reduces revenues the government receives. All else equal, what would happen if capital gains taxes were eliminated?
A) They would have to be replaced by a consumption tax. B) The government would not be able to spend money on any programs. C) Everyone would have to pay less in taxes. D) The deficit would increase because of lack of revenues.
In the North, the Civil War:
a. led to increased output of boots and shoes. b. led to increased output of iron for railroads. c. increased textile mill production to capacity. d. was accompanied by a relatively low unemployment rate. e. All of the above.