What are the three categories of the costs of taxes to taxpayers?
the tax payment itself, deadweight losses, administrative burdens
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The supply of money must be great enough to meet ordinary transaction needs, ______
Fill in the blank(s) with the appropriate word(s).
East Asian economies have grown
A) rapidly because of high saving rates. B) rapidly despite a lack of property rights. C) slowly because of a lack of property rights. D) slowly because of low saving rates. E) rapidly because they virtually eliminated international trade.
What is the relationship between fiscal multipliers and the "zero lower bound"?
A) Fiscal multipliers cannot fall below zero. B) When monetary policy has hit the zero lower bound, fiscal multipliers are likely to be larger than normal. C) At the zero lower bound, a fiscal contraction is actually expansionary. D) At the zero lower bound, fiscal policy works by shifting the aggregate supply curve, rather than shifting the aggregate demand curve.
Compared to the Keynesian transmission mechanism, the monetarist transmission mechanism is
A) indirect and long. B) direct and long. C) direct and short. D) indirect and short.