A progressive tax is one in which the fraction of income paid in taxes rises as a person's income increases
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Table 2-14. If the two countries specialize and trade, who should export guitars?
A) They should both be exporting guitars. B) Ireland C) There is no basis for trade between the two countries. D) Scotland
Which of the following is NOT a problem in the implementation of industrial policies?
A) Choosing the industry to target B) Knowing the optimum amount of resources to provide the targeted industry C) The encouragement of rent seeking by firms in other industries D) The benefits are partly captured by foreign firms. E) All of the above are problems.
If the economy is on the IS curve, but is to the right of the LM curve, aggregate output will ________ and the interest rate will ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Which of the following falls when bond prices rise?
a. Stock prices. b. Interest rates. c. Money demand. d. Money supply.