What is a potential drawback of a high degree of redistribution and too much taxation of the wealthy?
a. Discouraging entrepreneurship
b. Expanding political and federal power
c. Creating a progressive tax system
d. Triggering more offshoring of jobs
a. Discouraging entrepreneurship
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Suppose the current situation is such that the price level is 120, real GDP is $17 trillion, and GDP along the long-run aggregate supply curve is $16.6 trillion. What will take place to restore the long-run equilibrium?
A) The price level will fall until long-run aggregate supply increases to $17 trillion. B) The price level will fall and money wage rates will rise until real GDP along the long-run aggregate supply curve is $17 trillion. C) Money wage rates will rise until real GDP reaches $16.6 trillion. D) Aggregate demand will increase until both short-run and long-run aggregate supply equal $17 trillion.
Which of the following will be the most likely impact of an unanticipated increase in the money supply?
What will be an ideal response?
A family that earns $20,000 a year pays $200 a year in city wage taxes. A family that earns $40,000 a year pays $1,600 a year in city wage taxes. The city wage tax is
A. a progressive tax. B. a regressive tax. C. a proportional tax. D. a benefits-received tax.
Most prescriptions are written for
A. over-the-counter drugs. B. live-extending drugs. C. live-saving drugs. D. drugs which simply make life more comfortable or enjoyable.