In recent years, net interest on the national debt paid by the federal government as a percentage of GDP is equal to approximately:

"The unemployment rate is too high" is an example of a positive economic statement

Indicate whether the statement is true or false

If lower-income households spend a greater share of their income on cigarettes than do higher-income households, then a tax that raises the price of cigarettes will

A) cause lower-income households to incur a greater loss of consumer surplus than that incurred by higher-income households. B) cause higher-income households to incur a greater loss of consumer surplus than that incurred by lower-income households. C) raise consumer surplus among higher-income households. D) cause consumer surplus to decline among smokers, but the relative impact cannot be determined from the given information.