The Data Below Is the Consumption Schedule in an Economy

question 17

Multiple Choice

The data below is the consumption schedule in an economy. All figures are in billions of dollars. Refer to the above table. If a government sector is introduced and a lump-sum tax of $30 billion is imposed at all levels of GDP, then the consumption column in the table becomes:

• A) $420, 460, 500, 540, 580
• B) $426, 466, 506, 546, 586
• C) $430, 470, 510, 550, 590
• D) $432, 472, 512, 552, 592

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Definitions:

Trade and Commerce

Activities involving the exchange of goods and services between businesses or entities across geographical boundaries.

Robinson-Patman Act

A United States federal law designed to prevent anticompetitive practices by producers, specifically price discrimination.

Secondary Level Price Discrimination

A pricing strategy where prices are varied based on some attribute of the purchaser or the purchase context, not directly on production costs or primary market segments.

Competitive Injury

Harm or damage inflicted on a business's competitive position, often through unfair practices by competitors.