If the MPC is 0.9, and the government cuts spending by $200b, the overall effect on GDP will be:

An example of a regressive tax is the

A) corporate income tax. B) personal income tax. C) Social Security tax. D) state inheritance tax.

The slope of the production possibility frontier shows

a. the marginal rate of substitution between the two goods. b. the relative marginal costs of the two goods. c. the efficient combination of outputs possible using fixed amounts of input. d. the relative marginal productivities of the two goods.