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Chapter_22 - YourResultsfor"SelfStudyQuiz SiteTitle ,EighthEdition BookTitle ,8/e BookAuthor Case/Fair Locationon Chapter22>SelfStudyQuiz Site

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Your Results for: "Self-Study Quiz" Print this page Site Title: Principles of Economics, Eighth Edition Book Title: Principles of Economics, 8/e Book Author: Case/Fair Location on  Site: Chapter 22 > Self-Study Quiz Date/Time  Submitted: February 8, 2012 at 7:54 AM  (UTC/GMT) Summary of Results 35% Correct  of 40 Scored items: 14 Correct:  35% 26 Incorrect:  65% 4 questions not scored. 40 scored questions. More information about scoring 1. Which of the following is a concern  of fiscal policy? Your Answer: Policies concerning transfer paym compensation, Social Security be veterans’ benefits to households. Correct Answer: All of the above.   Incorrect. This answer is correct, however, other choices are also correct. 2. The behavior of the Federal  Reserve concerning the nation’s  money supply is called: Your Answer: Automatic fiscal policy. Correct Answer: Monetary policy.   Incorrect. Automatic fiscal policy is not monetary policy. 3. Over which of the following 
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categories does the government  have more control? Your Answer:   Correct. Tax rates are controlled by the government. By law, Congress has the authority to  decide who and what should be taxed and at what rate. Tax revenue, on the other hand, is  not subject to complete control by the government. Revenue from the personal income tax  system depends both on personal tax rates (which Congress sets) and on the income of the  household sector (which depends on many factors not under direct government control,  such as how much households decide to work). Revenue from the corporate profits tax  depends both on corporate profits tax rates and on the size of corporate profits. The  government controls corporate tax rates but not the size of corporate profits. 4. The collection of taxes and the  payment of transfer payments are  two government activities that best  fit one of the categories below.  Which one? Your Answer: The variable  G . Correct Answer: Net taxes.   Incorrect. The variable  G  refers to government purchases of goods and services. 5. Select the best answer. Households  use their disposable income ( Y d ) to  do the following:  Your Answer:   Correct. The income that ultimately gets to households is called disposable, or after-tax,  income ( Y d ) .  Y d  excludes taxes paid by households and includes transfer payments made to  households by the government.
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6. When government enters the  circular flow of income, which of the  following is an expression for  planned aggregate expenditure? Your Answer:
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This note was uploaded on 02/09/2012 for the course ECONOMY 101 taught by Professor Zaier during the Spring '11 term at Qatar University.

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Chapter_22 - YourResultsfor"SelfStudyQuiz SiteTitle ,EighthEdition BookTitle ,8/e BookAuthor Case/Fair Locationon Chapter22>SelfStudyQuiz Site

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