In 2014 income per person in the United States was about 10 times that in India
a. True
b. False
Indicate whether the statement is true or false
True
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The quantity of money held in response to interest rates is the
Which of the following is an example of an automatic stabilizer?
A. Congress legislates lower tax rates to increase consumption and investment. B. Tax rates are increased during a recession to maintain a balanced budget. C. A regressive income tax system reduces tax revenues (as a share of income) as income expands. D. Revenues from the corporate income tax increase sharply during a business boom but decline substantially during a recession, even though no new tax legislation has been enacted.
Why should a system of marketable pollution permits lead to less costly pollution abatement than a command-and-control system?
What will be an ideal response?
In the United States, the minimum wage is defined as
A. the lowest hourly wage rate a firm may legally pay its workers, as legislated by the U.S. government. B. the wage that the youngest job entrant into the job market makes. C. the wage ceiling above which a firm no longer must pay its employees additional benefits. D. the lowest wage that a corporation should pay a worker if the corporation wants to ensure that its employees are well trained.