An increase in corporate income taxes would reduce
A. national income.
B. personal income.
C. gross domestic product.
D. net domestic product.
Answer: B
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The above figure shows supply and demand curves for apartment units in a large city. At the unregulated equilibrium, producer surplus will be
A) d. B) d + e. C) d + g. D) d + c + g.
If the United Auto Workers union can obtain a substantial wage increase for auto workers, there will be
a. a decrease in the supply of automobiles, which is a shift to the right of the supply curve. b. a decrease in the supply of automobiles, which is a shift to the left of the supply curve. c. an increase in the supply of automobiles, which is a shift to the right of the supply curve. d. an increase in the supply of automobiles, which is a shift to the left of the supply curve.