Which of the following is an example of a payroll tax?
a. a tax on the wages that a firm pays its workers
b. a "sin" tax on distilled alcohol
c. a tax on corporate profits
d. the portion of federal income taxes earmarked to pay for national defense
a
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When the Fed engages in an open market sale, the money supply ________ and the nominal interest rate ________.
A. decreases; decreases B. increases; increases C. decreases; increases D. increases; decreases
A feature of debt markets in emerging-market countries is that debt contracts are typically
A) very short term. B) long term. C) intermediate term. D) perpetual.
If a demand shock causes the economy to move to a real GDP level that is below its full employment level, then
a. we refer to this as a positive demand shock. b. the economy will remain at this point in the long run. c. the AS curve will adjust in the long run until the economy returns to full employment. d. the AD curve will move back to its original position in the long run. e. the unemployment rate will decline.
What distinguishes the short-run real interest rate from the long-run real interest rate?
What will be an ideal response?