The federal income tax code of the United States is
A) progressive.
B) proportional.
C) regressive.
D) progressive for individuals but proportional for married couples.
A
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The endogenous variable in the liquidity preference function is ________
A) demand for real money balances B) the nominal interest rate C) real income D) the price level E) none of the above
Which of the following is true" a. To choose is to lose
b. Scarcity forces us to compete, but not to choose. c. Scarcity forces us to choose, but not to compete. d. Economic principles would be irrelevant if scarcity was eliminated.
If an excise tax is imposed on automobiles,
a. the demand curve will shift upward and the market price will increase b. the supply curve will shift downward and the market price will increase c. the supply curve will shift upward and the market price will increase d. the equilibrium quantity supplied will increase e. the equilibrium quantity demanded will increase
The labor market for ultrasound technicians in Cleveland is initially in equilibrium. Which of the following would lead to a lower wage rate and higher employment in that market?
a. a drop in demand for diagnostic services at Cleveland hospitals b. a drop in the price of ultrasound equipment c. an increase in the length of training required for ultrasound technicians d. a shift in potential workers' tastes away from hospital and clinical work e. a wage decrease for ultrasound technicians in nearby cities