A transfer payment is Select one: a.a form of government spending that is not made in exchange for a currently produced good or service. b.the benefit that a person receives from an expenditure by government minus the taxes that were collected by government to fund that expenditure. c.a payment for moving expenses a worker receives when he or she is transferred by an employer to a new location. d.a payment that is automatically transferred from your bank account to pay a bill or some other obligation.

A transfer payment is Select one: a.a form of government spending that is not made in exchange for a currently produced good or service. b.the benefit that a person receives from an expenditure by government minus the taxes that were collected by government to fund that expenditure. c.a payment for moving expenses a worker receives when he or she is transferred by an employer to a new location. d.a payment that is automatically transferred from your bank account to pay a bill or some other obligation.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter16: Government Spends, Collects, And Owes

Section: Chapter Questions

Problem 20AA

See similar textbooks

Similar questions

1. If the sales tax increases to 12%, what percentage of our Archie's income will jeff now pay in text on his $150 bill? Show your work. 2. Will he make adjustments to his purchases and if yes, how will he adjust? If no, why not? 3. If the sales tax increases to 12%, what percentage of Jeff's income will Archie pay in tax on his $150 bill? Show your work.
a What is the total value of government spending? b What is the value of total consumer spending? c What is the country's total GDP?
What is the advantage of capital gains treatment of income compared to expensing? Explain using natural resources as an example. a. Why are capital gains considered as beneficial to natural resources stewardship and development? b. Explain how the calculation of taxes owed would be calculated.
1. Government spending is used for the nation's defense, infrastructure, health, and _________ benefits. a. Education b. Welfare c. Safety d. Well-being
Discuss wether all firms in a country will welcome a change in people’s income.
Choose the Correct Answer. 1. This is a tax levied on gifts and is imposed on the gratuitous transfer of property between two or more persons who are living at the time of the transfer. A. Estate tax B. Capital gains tax C. Donor Tax D. Income Tax 2. It shows the peak of a business cycle. A. Recession B. Recovery C. Prosperity D. Depression 3. It shows that both production and employment fall. A. Recession B. Recovery C. Prosperity D. Depression 4. It pertains to the situation whereby both production and employment are at their lowest levels. A. Recession C. Prosperity Recovery D. Depression 5. It is a point in business cycle whereby both production and employment are rising towards full employment. A. Recession B. Recovery C. Prosperity D. Depression
(1) system contributes to reduce inequality and control consumption-Explain in your own words.
(1) Recent measurements have shown a significant deterioration in the quality of the Scottish seaside. Which of the following statements are compatible with this observation? A. The real value of GDP has increasedB. The real value of GDP remains the same C. North Sea oil wells have dried upD. The price of swimming costumes has gone down (2) The impact of Covid-19 on happiness is negative because A. it decreased economic activityB. it coincided with BrexitC. it forced social isolationD. it obliged people to develop new Information Technology skills(i) A is correct(ii) A and B are correct(iii) A and C are correct(iv) All of the above are correct
1.0 National income – The Pandemic Economy 1.1 The IMF estimates that the global economy will make a strong recovery and expand by 6.0 percent in 2021. This follows from an estimated contraction of 3.3 percent in 2020. COVID-19 has severely impacted the social and economic fabric of every country across the globe. Some have been more affected than others, but all have been facing what seems like an unending battle between saving lives and preserving livelihoods. Striking a delicate balance between providing social protection and maintaining economic activity, while limiting the risks to financial stability has been a challenge of immense proportions, employing varying strategies across different countries with uneven results. 1.2 In Trinidad and Tobago, the continuation of the pandemic and the associated public health restrictions undermined all the economic gains realized in the second half of 2020. Consequently, for the first quarter of 2021, the CSO estimates that real GDP at…
1) Lorenz curve show the inequality in income distribution but it does not show a) the debts involvedb) the country of inequalityc) amount of incomed) the percentage of population 2) Final goods are the only ones included in the GDP and GNP, in order to a) to include depreciationb) to avoid double countingc) to include all sectors of the economyd) to account for government borrowings as well 3) If the economy wants to decrease private sector's investment spending, a) the consumers must increase spendingb) both the government and consumers must increase spending.c) the government must increase its spendingd) the government must decrease its spending
1.20 A nation’s gross domestic product is…a) C + I + G + (X-M)b) The total amount of money in circulationc) The total market value of all the intermediate goods and servicesd) The sum of value added at some stages of the production process
5.19 explain.