If a person is taxed $100 on an income of $1,000 . taxed $180 on an income of $2,000 . and taxed $220 on an income of $3,000 . this person is paying a:
a. progressive tax.
b. poll tax.
c. proportional tax.
d. regressive tax.
e. retro tax.
d
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Why is it difficult to determine whether fluctuations in the target interest rate have led to business cycle fluctuations in the United States, according to the New Keynesian model?
A) Because the Federal Reserve may change the target interest rate according to economic conditions. B) Because the target interest rate is nominal, not real. C) Because inflation is not well measured. D) Because money is neutral.
As additional consumers obtain the benefits of a pure public good, such as national defense, the benefits to the existing consumers will:
A. stay the same. B. increase in the short run, but decrease in the long run. C. decrease. D. increase.
Human capital is generally acquired through:
A. job experience, but not training workshops because they are generally specific to certain job types. B. occupational workshops only,because this is where workers attain job focused skills. C. training, but not academic education. D. education, training and experience of workers.
Which of the following statements is false?
A. The price mechanism is most important under capitalism. B. The five-year plan was the main economic plan of the former Soviet Union. C. In most fascist economies, the means of production was left in private hands, with varying degrees of government interference. D. The main criticism of socialist countries is that they gave their citizens too many benefits.