If It Is Assumed That There Are Absolutely No Taxes

question 13

Multiple Choice

If it is assumed that there are absolutely no taxes in an economy, then aggregate consumption will be drawn as a function of:

• A)disposable income.
• B)real GDP.
• C)government expenditure.
• D)private income.
• E)government transfers.

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Definitions:

Starch

A polysaccharide carbohydrate consisting of a large number of glucose units, used by plants as a way to store energy.

Cellulose

A polysaccharide consisting of a linear chain of glucose units, serving as the main structural component of plant cell walls.

Dietary Fiber

A type of carbohydrate that the body can't digest, found in the edible parts of plants or extracted from them and has various health benefits.

Digest

A process by which food is broken down into smaller components that can be absorbed by the body, or a summary of information.