Americans generally pay
A. a lower percentage of their incomes in taxes than citizens of other industrialized countries.
B. a lower percentage of their incomes in taxes than citizens of other industrialized countries, with the exceptions of Sweden and the Netherlands.
C. about the same percentage of their incomes in taxes as citizens of other industrialized countries.
D. a higher percentage of their incomes in taxes than citizens of other industrialized countries.
Answer: A
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The largest category of commercial banks' assets is
A) securities. B) reserves. C) currency. D) checkable deposits. E) loans.
The Phillips curve will shift down with ________ or ________
A) a positive supply shock; an increase in expected inflation B) a positive supply shock; a decrease in expected inflation C) a negative supply shock; an increase in expected inflation D) a negative supply shock; a decrease in expected inflation
If Joe earns $80,000 per year and pays $20,000 in taxes, while Moe earns $100,000 and pays $22,000 in taxes, their tax system would best be described as:
a. progressive. b. proportional. c. regressive. d. discretionary. e. lump-sum.
Which of the following is a difference between a corrective tax and command-and-control regulation? a. A corrective tax is more expensive than command-and-control regulation. b. A corrective tax does not generate revenue, while command-and-control regulation generates revenue
c. A corrective tax is more flexible and cost-effective than command-and-control regulation. d. A corrective tax needs to be updated with changes in technology, while command-and-control regulation does not need to be updated.