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1)Darwinism interpreted as government refraining from interfering in society was reinterpreted to mean that government could reshape society to meet the needs of the individual through reform
1)Darwinism interpreted as government refraining from interfering in society was reinterpreted to mean that government could reshape society to meet the needs of the individual through reform.
True
False
2)
In the context of the market for goods and services, suppose an economy in which there are autonomous taxes and taxes proportional to income and there are no government transfers. Please indicate whether the following statements are true or false.
a) A decrease in autonomous investment generates a decrease in GDP, private savings and government revenue.
b)In the face of an economic slowdown, consumption decreases to a lesser extent than income.
c)Faced with an increase in the marginal propensity to save, the slope of aggregate demand (ZZ) decreases and the ZZ curve shifts downward.
d)A decrease in autonomous taxes (T0) decreases the slope of aggregate demand (curve ZZ).
Expert Solution
1)This statement is True.
Darwinism argued that the feeble were decreased and their societies delimited while the solid developed in power and social impact over the frail. Social Darwinists held that the life of people in the public eye was a battle for presence
The hypothesis was utilized to help free enterprise capitalism and political conservatism. Class delineation was defended based on "regular" disparities among people, for the control of property was supposed to be an associate of unrivaled and inalienable good ascribes, for example, enterprising nature, moderation, and thriftiness. Endeavors to change society through state mediation or different methods would, subsequently, meddle with regular cycles; unlimited rivalry and protection of the norm were as per natural determination.
2)a. False. Because a decrease in autonomous investment decreases the GDP , but it increases private saving and government. Autonomous investment is a part of government spending. So decrease in government spending will increase government revenue b. True. During economic slow down , consumption level decreases to lesser than extent than income. Because during economic slow down saving will be high c. True. Increase in marginal propensity to save , slope of aggregate demand curve decreases, because AD curve shift downward. Increase in MPS , will reduce consumption level and investment level in the economy. It will reduce aggregate demand and it will shifts AD curve downwards. d. False. Decrease in autonomous increases the slope demand curve. Because decrease in autonomous taxes will raise consumption and investment level in the economy. It will raise aggregate demand and shifts AD curve into upward and slope of AD curve will increase
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