In 2003 the top marginal federal income tax rate was reduced from 38.6 percent to _______.
Fill in the blank(s) with the appropriate word(s).
35.0%
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In the case of a nonexcludable public good, the market will fail to produce the good because of the free rider problem.
Answer the following statement true (T) or false (F)
The official definition of poverty is
A) exactly the 12 percent of U.S. residents with the lowest incomes. B) exactly the 20 percent of U.S. residents with the lowest incomes. C) an absolute measure. D) a relative measure.
Given a constant rate of growth of real GDP, what would lead to an increasing real GDP per capita?
a. a rate of population growth that is less than the rate of growth of real GDP b. a rate of population growth that is greater than the rate of growth of real GDP c. an increase in the size of the labor force d. an increase in the capital stock
Suppose you are analyzing data for an economy in which Ricardian neutrality holds true. What happens if the budget deficit increases by 50?
a. Investments will increase by 50. b. Investments will decrease by 50. c. Private savings will decrease by 50. d. Private savings will increase by 50.