Progressive taxation serves which of the following goals of economic welfare policy?
A. Economic growth
B. Redistribution of wealth
C. Progressive taxation has all of these goals aimed at reducing inequality.
D. Social insurance
Answer: B
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The government purchases multiplier equals the change in ________ divided by the change in ________
A) consumption spending; government purchases B) government purchases; consumption spending C) government purchases; equilibrium real GDP D) equilibrium real GDP; government purchases
The tradeoff for monetary policy represented by the Phillips curve is
a. lower inflation for lower output. b. lower inflation for higher unemployment. c. lower inflation for higher employment. d. higher expected inflation for higher output. e. none of the above.
The graph of a direct relationship will have a positive slope
a. True b. False Indicate whether the statement is true or false
How can we link the lack of futures markets in poor countries to the fact that farmers in poor countries are likely to remain poor?
What will be an ideal response?