ECO 302 Week 8 Quiz Strayer Question 1 5 out of 5 points If a household’s transfer payments less taxes is positive, then the government: Answer Question 2 5 out of 5 points In the market clearing model without government borrowing, the net effect of government on households is an increase in funds of: Answer Question 3 0 out of 5 points U.S. data show that the ratio of Social Security, Medicare and state and local Medicaid payments to GDP is Answer Question 4 0 out of 5 points One difference between a permanent and temporary increase in government purchases is that with a temporary increase, Answer Question 5 0 out of 5 points The fastest growing part of the federal government budget since WWII is: Answer Question 6 5 out of 5 points One empirical prediction from the model which includes government purchases is that Answer Question 7 0 out of 5 points Suppose real government purchases equal $800 billion and real government transfers equal $100 billion. If the nominal quantity of money is constant, then real tax revenues must Answer Question 8 5 out of 5 points At the federal level, the largest expansions in transfer payments have been from increases in Answer Question 9 5 out of 5 points If a household’s real taxes increase by one unit, then Answer Question 10 5 out of 5 points With a temporary change in government purchases the model predicts investment is: Answer Question 11 5 out of 5 points Real disposable income for a household equals Answer Question 12 0 out of 5 points Adding government to the Barro model affects the household budget constraint by Answer Question 13 5 out of 5 points A decrease in the marginal tax rate on labor income will shift the Answer Question 14 0 out of 5 points If government purchases are constant, then an increase in the marginal income tax rate,w, leads to: Answer Question 15 0 out of 5 points If there is an decrease in government purchases along with a decrease in the marginal tax rate on labor income, then: Answer Question 16 5 out of 5 points Since World War II, state and local government revenues have been a Answer Question 17 5 out of 5 points The average income tax rate is: Answer Question 18 0 out of 5 points The single largest source of federal government revenue from those listed below is Answer Question 19 5 out of 5 points The U.S. federal income-tax structure is designed so that Answer Question 20 5 out of 5 points Data on U.S individual income taxes shows that the income tax Answer Question 21 0 out of 5 points If the real marginal tax rate, w, increases in the market clearing model then: Answer Question 22 0 out of 5 points The U.S. Social Security contribution or tax on individuals has a marginal tax rate which equals the average tax rate. This makes it Answer Question 23 5 out of 5 points In the long run an increase in the marginal tax rate on asset income, r, in the market clearing model: Answer Question 24 0 out of 5 points An increase in government purchases financed by an increase in the marginal tax rate on labor income, increases the quantity of labor supplied, if the: Answer
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