In 2015, federal taxes on alcohol raised approximately
A. $1 billion.
B. $110 billion.
C. $3 billion.
D. $10 billion.
Answer: D
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You borrow $10,000 from a bank for one year at a nominal interest rate of 5%. If inflation over the year is 2%, what is the real interest rate you are paying?
A) 2% B) 2.5% C) 3% D) 5%
Which of the following is not a reason for the Ricardian equivalence theorem to fail to hold?
A) tax distortions B) people can borrow from the government. C) finite-lived people. D) credit market imperfections.
Commitment devices are:
A. mechanisms that allow people to voluntarily restrict their choices in order to make it easier to stick to plans. B. socially institutionalized practices that signal a particular commitment has been made by a person. C. policies that force participants to choose their future commitments. D. None of these statements is true.
A share of stock represents a claim on the
a. output of the firm b. firm's assets and earnings c. assets of the board of directors d. managers' incomes e. firm's future losses