In 2016, interest payments on the national debt accounted for almost _____ of federal outlays

The impact of financial markets on the economy comes partly through

A) the substitution effect. B) the wealth effect. C) the international trade effect. D) the travel effect.

When different consumers pay different amounts of taxes, Ricardian equivalence may fail because

A) alternative ways of collecting the same tax revenue can affect the distribution of income. B) consumers can become jealous of one another. C) such differences in taxes create credit market imperfections. D) higher taxes on more talented people may be politically popular.