Individual Retirement Accounts and 401(k) plans make the current U.S. tax system
a. less like European tax systems than it otherwise would be.
b. more like a payroll tax than it otherwise would be.
c. more like an income tax than it otherwise would be.
d. more like a consumption tax than it otherwise would be.
d
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The current account deficits incurred by the United States in the 1990s and early 2000s were caused, in the opinion of many economists, by
A) federal budget deficits. B) a sharp decline in private saving. C) "flight to quality" as foreign investors favored U.S. investments. D) Both B and C are correct.
People in a certain group have a 0.3% chance of dying this year
If a person in this group buys a life insurance policy for $3,300 that pays $1,000,000 to her family if she dies this year and $0 otherwise, what is the expected value of a policy to the insurance company? A) $0 B) $300 C) $3,000 D) $3,300
Since the income elasticity for food is estimated to be 0.51, it appears that the proportion of income spent by poor people on food is ____ the proportion spent by those with higher incomes
a. greater than b. less than c. about the same as d. about half as great as
Ceteris paribus, if the government transfers income from individuals with a high MPC to those with a low MPC, in the short run, spending and output will:
A. Increase. B. Decrease. C. Stay the same. D. Increase or decrease depending on the level of saving.