The cyclically adjusted budget deficit or surplus measures what the deficit or surplus would be if the economy was
A) in the recession phase of the business cycle.
B) in the expansion phase of the business cycle.
C) at potential GDP.
D) no longer in a business cycle.
C
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If the government raises taxes on labor income and interest income, explain how potential GDP and economic growth are affected
What will be an ideal response?
Last year, Anthony Millanti earned exactly $30,000 of taxable income. Assume that the income tax system used to determine Anthony's tax liability is progressive
The table below lists the tax brackets and the marginal tax rates that apply to each bracket. a. Draw a new table that lists the amounts of income tax that Anthony is obligated to pay for each tax bracket, and the total tax he owes the government. (Assume that there are no allowable tax deductions, tax credits, personal exemptions, or any other deductions that Anthony can use to reduce his tax liability). b. Determine Anthony's average tax rate. Tax Bracket Marginal Tax Rate $0-5,000 0.05 (5%) 5,001-10,000 0.10 (10%) 10,001-15,000 0.15 (15%) 15,001-20,000 0.20 (20%) 20,001-25,000 0.25 (25%) 25,001-30,000 0.30 (30%)
A division of a firm is
a. a logical sub-organization of the firm b. a level within the firm in which a large degree of autonomy is vested c. a level of hierarchy within a firm that defines the scope of a manager d. all of the above
Typically, when people use anchoring and adjustment to estimate something, the importance of ________ in influencing their assessment is too large.
A. the adjustment B. the anchor C. neither the anchor nor the adjustment D. both the anchor and the adjustment