The payroll tax receipts
a. are used to reduce the national debt.
b. are invested in private business for future payments.
c. pay off current recipients of Social Security payments.
d. go directly into a trust fund for investment in private businesses.
c
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The proposition that the amount of goods and services produced in an economy in the long run is not affected by the price level is known as the ________
A) neutrality of money B) classical dichotomy C) quantity theory of money D) Fisher effect E) none of the above
A common argument in favor of restricting international trade in good x is based on the premise that
a. international trade reduces total surplus in countries that export good x. b. international trade reduces total surplus in countries that import good x. c. international trade is desirable only when countries with different domestic supplies of natural resources play by different rules when trading with one another. d. trade restrictions can be useful when one country bargains with its trading partners.