15. In the figure below, which of the following is true? 1 point i.Governments c

Question

15. In the figure below, which of the following is true? 1 point i.Governments coordinate economic activities of households and firms. i. Governments buy goods and services in goods markets. ii.Households pay taxes directly to firms. on goods and services Rent, wages interest, and profit Transfers Taxe Expenditures on goods and FACTOR MARKETS GooDs MARKETS GOVERNMENTS 0n goods and services Transfers Taxes Rent, wages, interest, and profit on goods and FIRMS A) only" O B) only i O C) only ii 0 D) i and ii E) ii and iii

Explanation / Answer

15.

D.

The government not only regulates the market, but also it makes spending for its own institution. To meet the requirements of the institution, government purchases good in the goods market.

16.

B.

Households don’t pay social security tax (SST) directly to the government. Rather, SST is withhold from the paycheck of the employees, by the firms, made equal contribution by the firms and then firms pay the STT to the government.

19.

C

At 200 loaves of bread, only 700 books can be produce. So, producing 800 books cannot be produced if 200 loaves of bread is produced.

21.

D

Point A, B and C fall on the PPF curve. So, all these three points are efficient production point.

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