Which of the following is an example of a progressive tax?
a. The excise tax on cigarettes.
b. The federal tax on gasoline.
c. The federal personal income tax.
d. All of these.
c
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The existence of unemployment can be illustrated on a production possibilities curve by a(n)
A. point below or inside the surface of the curve. B. inward shift of the curve. C. movement along the curve. D. outward shift of the curve.
When will a wage increase cause a firm to produce more output in the long run?
a. Always. b. When labor and capital are complements in production. c. When labor is a regressive factor. d. Never.
Consumer choice theory predicts that, with identical consumers, pay-as-you-go social security
A) always makes all generations worse off. B) makes some generations better off, and cannot make any generation worse off. C) may make some generations worse off and cannot make any generation better off. D) may be Pareto improving.
Assuming the economy is at full employment, a decrease in aggregate demand will most likely cause a change in which of the following types of unemployment?
A. Structural. B. Seasonal. C. Frictional. D. Cyclical.