Assume that GDP = $10,000 and the MPC = 0.75. If policy makers want to increase GDP by 30 percent, by how much should they decrease taxes?
A) $300 B) $750 C) $1,000 D) $3,000
C
Economics
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Which of the following summarizes the "incentive problem" with gift-giving that Professor Tabarrok discusses in the video?
A. Gift-giving reduces the incentives for people to rely on market transactions. B. When people choose gifts, they have little incentive to choose carefully. C. When people buy gifts, they have an incentive to overspend to send a signal that they are generous. D. People have little incentive to purchase a gift unless they expect a gift in return.
Economics
Briefly describe the types of health care systems in Canada, Japan, and the United Kingdom
What will be an ideal response?
Economics