If it is assumed that there are absolutely no taxes in an ...

[futuristic]

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.

Question 2

Market failure is a term used to describe what happens when market arrangements do not allocate resources efficiently.
 a. True
  b. False
  Indicate whether the statement is true or false

[Meganchabluk]

Answer to Question 1

b

Answer to Question 2

True