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  • What do economists call a tax that causes higher-income individuals to pay a higher percentage of their income as tax than lower-income individuals? #41
  • The effective tax rate is: #42
  • … taxes are those that are levied on goods and services. … taxes are those that are levied upon individuals and firms. #43
  • Increased government spending financed by government borrowing will generally cause: #44
  • The difference between federal government spending and federal government tax revenue in a particular year is: #45
  • Productive … exists when an economy cannot produce more of one good without producing less of another good. #46
  • Governments have several functions, but which is certainly not an economic one? #47
  • Which of the following is not a function of money? #48
  • A saving account would be included in: #49
  • A liquidity trap occurs when the demand for money: #50
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