A progressive income tax means the percentage of income paid in taxes decreases as income increases
a. True
b. False
Indicate whether the statement is true or false
False
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All of the following arguments are made against inflation targeting EXCEPT
A) rigid numerical targets would diminish the flexibility of monetary policy. B) the Fed would need to depend on future forecasts of inflation since monetary policy acts with a lag. C) the Fed has little influence on inflation. D) Holding the Fed accountable for low inflation may make it difficult for elected officials to monitor whether the Fed is supporting good overall economic policy.
Suppose Ethan and Ava work in a farm that grows apples and oranges of the same size. In one hour, Ethan can pick 8 pounds of apples or 1 pound of oranges. Ava can pick 6 pounds of apples or 1 pound of oranges. It can be concluded that
A) Ava has a comparative advantage in picking apples. B) Ava has an absolute advantage in picking apples. C) Ethan has a comparative advantage in picking apples. D) Ethan has an absolute advantage in picking oranges.
An example of a good that is not rival in consumption is:
A. a sports car. B. a paper clip. C. bottled water. D. electricity.
The branch of mathematics that analyzes situations in which players must make decisions and then receive payoffs based on their own and others' decisions is called game theory
a. True b. False Indicate whether the statement is true or false