According to the Organization for Economic Cooperation and Development (OECD):
A. the United States has the most progressive tax system among OECD nations.
B. the United States has the least progressive tax system among OECD nations.
C. the U.S. tax system has the same degree of progressivity as those of nations such as
Canada, Japan, and France.
D. the U.S. tax system has the same degree of progressivity as those of many developing
nations.
Answer: A
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Under a flexible exchange rate system a decline in the value of a currency relative to other currencies is a called a ________ and under a fixed exchange rate system a decrease in the official value of a currency is called a ________.
A. depreciation; devaluation B. appreciation; revaluation C. depreciation; appreciation D. revaluation; appreciation
The minimum level of income per person that is generally necessary for the individual to obtain enough calories, shelter, and clothing to survive is referred to as:
A) safety level of income. B) survival wage rate. C) subsistence level of income. D) minimum wage rate.
Which of the following countries had the highest level of government expenditures as a share of GDP?
a. Sweden. b. Japan. c. United States. d. Italy.
What is the term for taxes that governments place on imported goods for a variety of reasons?
a. barriers b. tariffs c. goods taxes d. import taxes