Which of the following is incorrect regarding tax revenues?
A. they increase during economic expansions
B. they increase during recessions
C. they change with changes in the tax rate
D. they are a revenue source in the government's budget
Answer: B
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The ________ refers to the situation when people are promoted beyond their level of competence
a. Peter Principle b. Abernathy Principle c. Delaney Principle d. Suskind Principle
The antitrust case that ended the use of the "rule of reason" by the Supreme Court was the ________ case.
A. American Tobacco B. ALCOA C. U.S. Steel D. IBM
Full employment in the United States
A. means that the cyclical unemployment rate is about 2%. B. means 0% unemployment for 6 months. C. means the economy has no cyclical unemployment. D. means a 100% employment rate.
A worker would be hurt least by inflation when the:
A. Worker anticipates inflation and increases savings at the bank B. Worker is protected by a cost-of-living adjustment clause in an employment contract C. Worker is protected by fixed annual increases in wages and benefits in an employment contract D. Government increases the level of social security retirement benefits to correct for the effects of anticipated inflation