Which of the following properly ranks the size of tax revenues received by the federal government from highest to lowest?
A. Income taxes, Social Security payroll taxes, corporate taxes, and excise taxes.
B. Social Security payroll taxes, excise taxes, corporate taxes, and income taxes.
C. Corporate taxes, Social Security payroll taxes, income taxes, and excise taxes.
D. Excise taxes, Social Security payroll taxes, income taxes, and corporate taxes.
Answer: A
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The marginal propensity to consume is always
A) equal to zero. B) less than one. C) equal to one. D) greater than one.
The ________ problem of discretionary policy arises because economic behavior is influenced by what firms and people expect the monetary authorities to do in the future
A) moral hazard B) time-inconsistency C) nominal-anchor D) rational-expectation
For a monopoly market, total surplus can be defined as the value of the good to
a. producers minus the cost incurred by consumers. b. producers plus the cost incurred by consumers. c. consumers minus the costs of producing the good. d. consumers plus the cost of producing the good.
Which of the following costs of inflation can be significant even if actual inflation and expected inflation are the same?
a. menu costs b. inflation tax c. shoeleather costs d. All of the above are correct.