When taxpayers pay more in taxes because of inflation even when the nominal tax structure remains the same, this is called _____
a. indexation
b. bracket creep
c. tax expenditure
d. nominal rigidity
b
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In 2012, real GDP in the United States was below potential GDP. This fact definitely means that
A) the unemployment rate was near 10 percent. B) the unemployment rate was above the natural unemployment rate. C) the economy was in an expansion. D) cyclical unemployment had been decreasing. E) frictional unemployment was negative.
Streaming Netflix movies would be considered:
A. a common resource. B. a private good. C. a public good. D. an artificially scarce good.
If the numbers of employed and unemployed do not change but the size of the civilian population increases by 10%, what would be the effect?
a. an increase in the unemployment rate and an increase in the labor force participation rate b. an increase in the unemployment rate and no change in the labor force participation rate c. an increase in the unemployment rate and a decrease in the labor force participation rate d. no change in the unemployment rate and a decrease in the labor force participation rate
Wage-related rents are derived in the same way that land rents are derived
Indicate whether the statement is true or false