Federal taxes as a share of GDP have _______________.
a. increased dramatically
b. decreased dramatically
c. remained the same within 3%
d. remained flat
c. remained the same within 3%
You might also like to view...
Which of the followings is NOT a current duty of the Board of Governors of the Federal Reserve System?
A) setting margin requirements, the fraction of the purchase price of the securities that has to be paid for with cash B) setting the maximum interest rates payable on certain types of time deposits under Regulation Q C) approving the discount rate "established" by the Federal Reserve banks D) voting on the conduct of open market operations
In the 1990s Japan had the lowest interest rates in the world due to a combination of
A) inflation and recession. B) deflation and expansion. C) inflation and expansion. D) deflation and recession.
In a machine shop, the marginal physical product of an additional unit of labor is 4 units of output, while the marginal physical product of an additional piece of machinery is 2, under what conditions would the firm increase labor usage?
A. It would increase labor usage if the wage rate is more than twice the unit price of a piece of machinery. B. It would increase labor usage if the wage rate is less than twice the unit price of a piece of machinery. C. It would increase labor usage as long as the wage rate is less than the unit price of a piece of machinery. D. It would not increase labor usage under any scenario.
Give an example that demonstrates a change of price elasticity along a linear demand curve. Avoid using examples given in the text.
What will be an ideal response?