Which of the following is the most important source of revenue for the federal budget?
A. The corporate income tax.
B. Social Security and unemployment taxes.
C. The federal personal income tax.
D. Sales tax.
Ans: C. The federal personal income tax.
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Even if the Fed could completely control the money supply, monetary policy would have critics because
A) the Fed is asked to achieve many goals, some of which are incompatible with others. B) the Fed's goals do not include high employment, making labor unions a critic of the Fed. C) the Fed's primary goal is exchange rate stability, causing it to ignore domestic economic conditions. D) it is required to keep Treasury security prices high.
When and why did Congress create the Federal Reserve System? What other attempts, if any, were made to establish a central bank in the United States?
What will be an ideal response?
If the income elasticity of hamburgers is -0.8 for John, then his share of income spent on hamburgers will ________ when his income increases
A) increase B) decrease C) remain the same D) Not enough information
Which of the following correctly orders, highest to lowest, the relative magnitudes of U.S. spending by businesses on components of R&D?
A. Invention, basic research, innovation. B. Invention, innovation, basic research. C. Innovation, invention, basic research. D. Basic research, invention, innovation.