The primary source of revenue for the federal government of the United States are taxes tied to ________

Simon Kuznets's research in his National Income and Its Composition showed that

a. Keynes's absolute income hypothesis is empirically correct b. budget deficits crowd out consumption spending c. a nation's MPC tends to remain fairly constant regardless of the absolute level of national income d. as national income increases, consumption spending increases, but by diminishing amounts e. consumption and income cannot be linked in any meaningful fashion

If the equilibrium price of an airline ticket is $400 and the government imposes a price floor of $500 on airline tickets, then fewer airline tickets will be sold than at the market equilibrium

a. True b. False Indicate whether the statement is true or false