In 2005, the median income of renters was $26,317 and the median income of homeowners was $50,505. If imputed rent were added to household income or rent became deductible, the personal income tax would become
A. more progressive.
B. more regressive.
C. about proportional.
D. less progressive.
Answer: A
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John Maynard Keynes wrote The General Theory of Employment, Interest, and Money (1936) to
a. improve the gold supply balances of the British government. b. prove that the punitive nature of the Treaty of Versailles would ultimately lead to recession in Europe. c. prove that active government policy would produce unemployment and high rates of inflation. d. demonstrate that pessimistic consumers and businesspersons could reduce their spending and condemn the economy to long-run stagnation.
According to Keynesians, an increase in the money supply will:
a. only increases prices. b. increase the interest rate, and decrease investment, aggregate demand, prices, real GDP, and employment. c. decrease the interest rate, and decrease investment, aggregate demand, prices, real GDP, and employment. d. decrease the interest rate, and increase investment, aggregate demand, prices, real GDP, and employment.
Which is the second stage of Maslow's hierarchy of needs?
a. self-actualization b. esteem needs c. safety needs d. physical needs
Critics of social regulation argue that it:
A. causes deflation. B. violates the due process clause of the U.S. Constitution. C. is a relatively greater burden for small firms than for large firms. D. improves allocative efficiency.