The ________ and the ________ determine tax revenues.
A. value of transfer payments; money supply
B. money supply; income tax rate
C. income tax rate; income of households
D. income of households; value of transfer payments
Answer: C
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In the above figure, when the price of a gallon of gasoline falls, which points in the above figure are used to derive points on the consumer's demand curve for gasoline?
A) points A and B B) points A and C C) points B and C D) points A, B, and C
Consider the following economic agents:
a. the government b. consumers c. producers Who, in a centrally planned economy, decides what goods and services will be produced with the scarce resources available in that economy? A) producers B) consumers C) the government, consumers, and producers D) consumers and producers E) the government
A country with a fixed exchange rate experiences downward pressure on the exchange rate value of its currency. The central bank chooses to intervene in the market to maintain its fixed exchange rate. How would the central bank go about intervening? If the downward pressure on the currency persists for a long period, even after successive interventions in the foreign exchange market, would it be difficult to maintain the fixed exchange rate? Why or why not? Give an example of a country that attempted to maintain its exchange rate in the face of downward pressure. What was the result?
What will be an ideal response?
The late-1960s era Johnson 10% tax surcharge designed to curb inflation is an example of
A. monetary policy. B. discretionary (and expansionary) fiscal policy. C. discretionary (and contractionary) fiscal policy. D. nondiscretionary fiscal policy.