Which type of tax is used to finance the Social Security program in the United States?
a. consumption tax
b. income tax
c. payroll tax
d. property tax
c
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If a consumer is indifferent between 5 units of A and 8 units of B, then the consumer would:
a. also be indifferent between 4 units of A and 9 units of B. b. also be indifferent between 8 units of A and 5 units of B. c. prefer 6 units of A and 8 units of B. d. give up 1 unit of A if he/she could acquire 2 units of B. e. not trade product A in exchange for any units of product B.
John Maynard Keynes, author of The General Theory of Employment, Interest, and Money, argued that
a. classical economic theory was correct b. the government should follow a policy of laissez faire c. the critiques of classical economics were flawed d. the economy does not always perform well in the absence of government guidance e. instead of focusing on money, the government should control interest rates