A tax on individuals’ earnings is called the:
A. payroll tax.
B. personal income tax.
C. corporate income tax.
D. excise tax.
B. personal income tax.
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The natural rate of unemployment includes
A) frictional and cyclical unemployment. B) frictional unemployment and structural unemployment. C) only cyclical unemployment. D) only unemployment due to layoffs and corporate downsizing.
One method for solving the adverse selection problem is
A) to restrict the ability of the party with information from taking advantage of hidden information. B) by having the government run all firms. C) to close down firms with bad reputations. D) All of the above.
Net exports equal
a. exports plus imports. b. imports minus exports. c. Y - (C + I + G). d. Y - (C - I - G).
Those economists who believe that the economy is self-regulating argue that wages are flexible, so they think that the economy can remove itself from a recessionary gap without government intervention
Indicate whether the statement is true or false