The excise tax is
A. regressive.
B. progressive.
C. proportional.
D. an ability-to-pay tax.
Answer: A
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Which statement is false?
A. Most jobs in defense plants during World War II were held by white males. B. The federal government instituted wage and price controls during World War II. C. Very little new housing was built during the Great Depression and World War II. D. None of the statements are false.
The primary reason for the success of the colonial shipbuilding industry was:
a. the plentiful supply of skilled labor. b. low wages in the American shipbuilding industry. c. a plentiful supply of iron ore. d. the close proximity of raw materials, especially lumber.
Kelly earns $72,000 per year from her fashion boutique. If the government increases the rate of tax from 12 percent to 15 percent, then her annual disposable income would: a. increase by $2,160
b. decrease by $2,160. c. increase by $10,800. d. decrease by $10,800.
If in some year nominal GDP was $20 billion and the GDP deflator was 50, what was real GDP?
a. $2.5 billion. b. $10 billion. c. $40 billion. d. $100 billion.