Which of the following is an example of a progressive tax?
a. Social Security tax
b. federal income tax
c. excise tax
d. payroll tax
b
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If potential output equals 8,000 and short-run equilibrium output equals 8,500, there is a(n) ________ gap and the Federal Reserve must ________ real interest rates in order to close the gap.
A. recessionary; not change B. recessionary reduce C. recessionary; raise D. expansionary; raise
Tax credits for new investment are likely to
A. Increase or decrease physical capital investment, depending on the magnitude of the tax credits. B. Have no effect on physical capital investment. C. Decrease physical capital investment. D. Increase physical capital investment.
As inflation increases, households become ________ uncertain leading to ________ spending.
A. less; less B. more; more C. less; more D. more; less
Bank ownership of corporate stock is "discouraged" by regulators in
A) the United States. B) the United Kingdom. C) Germany. D) Japan.