Federal taxes increased in 1932, 1935 and 1937, and Social Security taxes were imposed in 1937 . Which group is credited for these tax increases during the Great Depression?
(a) Classical economists
(b) Keynesian economists
(c) Monetarists
(d) Government officials and special interest groups
(d)
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Unlike Germany, Japan has
A) a suppressed corporate debt market. B) laws against banks holding corporate stock. C) a large stock market. D) close ties between a firm and a single bank.
What determines how a change in prices will affect total revenue for a company?
a) elasticity of demand b) the company's pricing policy c) values of elasticity d) the consumers' income
Suppose a union successfully negotiates a wage rate for its members that is above the competitive wage rate, then
A) employment in the union sector will increase. B) the union must find a way to make union workers more productive. C) the union must also negotiate a fringe-benefit package that the membership will like. D) the union must find a way to ration jobs among the excessive number of workers who wish to work at the negotiated wage.
How does a market system prevent people from getting as many goods and services as they wish?
A) In a market system, firms can charge any price they want, thus preventing poor people from getting as many goods and services as they wish. B) Governments interfere with the market mechanism to influence the allocation of goods and services. C) The market system allocates goods and services to those who are able to pay for those products and therefore income is a limiting factor. D) The government imposes taxes on those who earn beyond a certain amount of income.