A machine produces no benefits now, but $200 in benefits at the end of a year. At the end of the year it falls apart into a heap of dust never to be used again. The present value of its income stream is approximately

Keynes argued that the transactions component of the demand for money was primarily determined by the level of people's ________, which he believed were proportional to ________

A) transactions; income B) transactions; age C) incomes; wealth D) incomes; age

Suppose that in the economy of Springfield, USA, Homer, who has an income of $50,000, pays $10,000 in taxes. Edna, who has an income of $35,000, pays $9,000 in taxes. Based on this information, we could say that Springfield's tax system is

A) proportional. B) progressive. C) regressive. D) flat.