As a percentage of total federal revenues, the individual income tax has _____
a. increased substantially since 1960
b. declined substantially since 1960
c. increased slightly since 1960
d. declined slightly since 1960
c
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Displayed below is the payoff matrix of firm A for four different strategies, A1, A2, A3, and A4, and the potential retaliatory responses of firm B (B1, B2, B3, B4).Table 12-1 ? B1 B2 B3 B4 A1 100 50 25 10 A2 10 60 150 200 A3 50 75 200 250 A4 30 50 100 150 If firm A uses the maximin criterion, which strategy will it choose? ?
A. A1 B. A2 C. A3 D. A4
Excess volatility refers to
A) the unwillingness of financial analysts to consistently recommend the same stocks. B) the greater volatility of futures prices compared to the volatility of prices of the underlying assets. C) the tendency for stocks with high rates of returns also to have quite variable returns. D) the larger movements in market prices of stock than in their fundamental values.
In a large open economy, an increase in ________ leads to ________
A) desired saving; an increase in the domestic interest rate B) desired investment; an decrease in the domestic interest rate C) desired saving; an increase in desired investment D) desired saving; a decrease in actual investment E) none of the above
In comparing GDP data over a period of years, a difference between nominal and real GDP may arise because:
A. changes in trade deficits and surpluses. B. the length of the workweek has declined historically. C. the price level may change over time. D. depreciation may be greater or smaller than gross investment.