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Quiz 6 - marked .pdf - Quiz 6 9*16 PM ECON 248v9...

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2018-03-21, 9*16 PM Quiz 6 Page 1 of 11 http://sb.lms.athabascau.ca/mod/quiz/review.php?attempt=256843&showall=1 ECON 248v9 Macroeconomics Question 1 Correct Mark 1.00 out of 1.00 Flag question Question 2 Incorrect Mark 0.00 out of 1.00 Flag question Started on Wednesday, 21 March 2018, 7:17 PM MDT State Finished Completed on Wednesday, 21 March 2018, 9:15 PM MDT Time taken 1 hour 57 mins Marks 24.00/30.00 Grade 80.00 out of 100.00 If revenues exceed outlays, the government's budget balance is ________, and the government has a budget ________. Select one: a. positive / de fi cit b. zero / surplus c. negative / de fi cit d. positive / surplus e. negative / surplus The correct answer is: positive / surplus The government of Cregaria's budget lists the following projected revenues and outlays: $25 million in personal income taxes, $15 million in corporate income taxes, $8 million in indirect taxes, $2 million in investment income, $27 million in transfer payments, $12 million in government expenditure, and $8 million in debt interest. Cregaria has a government budget Select one: a. de fi cit of $13 million. b. surplus of $3 million. c. de fi cit of $3 million. d. surplus of $57 million. e. surplus of $13 million. The correct answer is: surplus of $3 million.
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2018-03-21, 9*16 PM Quiz 6 Page 2 of 11 http://sb.lms.athabascau.ca/mod/quiz/review.php?attempt=256843&showall=1 Question 3 Correct Mark 1.00 out of 1.00 Flag question Question 4 Correct Mark 1.00 out of 1.00 Flag question Question 5 Incorrect Mark 0.00 out of 1.00 Flag question Which of the following is not a source of government revenues? Select one: a. debt interest b. investment income c. corporate income taxes d. personal income taxes e. indirect taxes The correct answer is: debt interest A tax cut on capital income Select one: a. does not a ff ect potential GDP because the interest rate a ff ects aggregate expenditure only. b. increases potential GDP because households have more disposable income to spend. c. increases potential GDP because the supply of loanable funds increases. d. does not a ff ect potential GDP because it has no impact on the supply of labour. e. increases potential GDP because workers have greater incentives to work. The correct answer is: increases potential GDP because the supply of loanable funds increases. Suppose the tax rate on interest income is 25 percent, the real interest rate is 4 percent, and the in ation rate is 4 percent. The real after-tax interest rate is Select one: a. 3.5 percent. b. -0.5 percent. c. 2.0 percent. d. 4.0 percent. e. 0.5 percent. The correct answer is: 2.0 percent.
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2018-03-21, 9*16 PM Quiz 6 Page 3 of 11 http://sb.lms.athabascau.ca/mod/quiz/review.php?attempt=256843&showall=1 Question 6 Incorrect Mark 0.00 out of 1.00 Flag question Question 7 Correct Mark 1.00 out of 1.00 Flag question Question 8 Correct Mark 1.00 out of 1.00 Flag question Question 9 Correct The government increases the tax rate on labour income. At the equilibrium level of employment, the before-tax wage rate ________ and the after-tax wage rate ________.
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