Figure 9-3
?
In Figure 9-3, equilibrium GDP is
A. $2,000 billion.
B. $3,000 billion.
C. $4,000 billion.
D. $5,000 billion.
Answer: C
Economics
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Chris had a before-tax income of $20,000 and paid taxes of $3,000 . Pat had a before-tax income of $10,000 and paid taxes of $1,000 . Based on this information, which of the following is correct?
a. the tax system is regressive b. the tax system is proportional c. the tax system is progressive d. the tax system is based on the benefits received e. there is insufficient information to answer the question
Economics
One of the most basic models of the economy is:
A. real GDP per capita. B. the current population survey. C. consumer expenditure. D. the circular flow model.
Economics