The fair or flat tax suggested to make the income tax system more fair to the citizens would result in
A. decreasing the impact of automatic stabilizers.
B. increasing the impact of automatic stabilizers.
C. generate a larger revenue to the federal government and decrease deficits.
D. not affect the effectiveness of automatic stabilizers.
A. decreasing the impact of automatic stabilizers.
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Which of the following is true of a human mind?
a. A human mind seldom makes consistent error-free calculations. b. A human mind can attend to more than a handful of concepts at one time. c. A human mind can fully analyze the interrelationships between different concepts. d. A human mind can navigate through complex logic to correct conclusions.
If the demand for money depends on the interest rate, then a ________ in the money supply will increase nominal GDP by ________.
A. 5% decrease; more than 5% B. 5% increase; less than 5% C. 5% decrease; exactly 5% D. 5% increase; more than 5%
All of the following are reasons that trade between nations is beneficial EXCEPT
A) gains from specialization. B) exchange of ideas. C) protection of domestic industries. D) gains from trade.
The manager of a perfectly competitive firm has to decide:
A) the quantity of output the firm should produce. B) the price the firm should charge for its output. C) the quantity of output the firm should produce and the price it should charge. D) neither the quantity of output the firm should produce nor the price it should charge because the market makes both of these decisions.