Which tax form would you select for a Subchapter S corporation?
a. Form 1120
b. Form 1120S
c. Form 1040
d. Form 1040S
b. Form 1120S
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When the percentage change in the quantity demanded equals the percentage change in price, then demand is
A) inelastic. B) unit elastic. C) elastic. D) irrelevant. E) undefined.
Which of the following statements is (are) correct? The new classical economics
a. questions the soundness of the Keynesian model, arguing that many of its relationships are not firmly based on individual optimizing behavior. b. criticizes what it considers arbitrary assumptions of Keynesians concerning wage stickiness and consequent involuntary unemployment. c. favors the rational expectations assumptions over formulations that assume that individuals form price expectations on the basis of past history of prices because the rational expectations hypothesis is consistent with individual optimizing behavior. d. All of the above e. None of the above
The problem in many middle- and low-income economies around the world is very high __________, which generally arises from huge budget deficits that are financed by the government printing its domestic currency.
a. inflation b. unemployment c. taxes d. leverage
In the In the News article in the text titled "Fiscal Policy in the Great Depression," President Hoover's prescription in 1932 was for cutbacks in government spending and higher taxes. He was effectively
A. Applying the Keynesian prescription for handling a depression. B. Decreasing the level of AD. C. Targeting the goal of full employment rather than reduction of inflation. D. Following the classical approach of laissez faire.