The fact that high-income earners tend to earn a higher percentage of their incomes from rent and dividends, in contrast to low-income earners, make the payroll taxes:
A. More progressive
B. Proportional
C. More regressive
D. A flat tax
C. More regressive
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When calculating GDP, the Bureau of Economic Analysis releases its "advanced estimate" of a quarter's GDP approximately
A) three months before the quarter has ended. B) one year after the quarter has ended. C) three months after the quarter has ended. D) one month after the quarter has ended.
Why is the economy at full employment in the long run?
A) Only wages have the ability to adjust. B) Only price can adjust. C) Prices don't adjust. D) Wages and the price level eventually adjust to full employment equilibrium levels. E) Government policies eventually converge on the full employment strategy.
Frictional unemployment is often the result of changes in the demand for labor among different firms
a. True b. False Indicate whether the statement is true or false
Inflation is the increase in:
A. total output. B. total output per worker. C. imports relative to exports. D. the general level of prices.