On what kind of income is our tax system based?
A. real
B. nominal
C. adjusted
D. inflationary
Answer: B
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
Which of the following is an argument against MNCs?
(a) A reduction in inequality. (b) An increase in the use of labor intensive technology. (c) A deterioration of the balance of payments accounts. (d) An increase in government tax revenue. (e) None of the above.
How does opportunistic behavior affect a contract?
When a banker accepts a deposit of $1,000 in cash and puts $200 aside as required reserves and then makes a loan of $800 to a new borrower, this set of transactions
a. decreases the money supply by $1,000. b. decreases the money supply by $200. c. does not change the money supply. d. increases the money supply by $200. e. increases the money supply by $800.