According to the research of Christina Romer and David Romer, tax increases implemented to reduce an inherited budget deficit:
A. reduce real output by the same amount as any other tax increase.
B. reduce real output by more than other tax increases.
C. reduce real output by less than other tax increases.
D. increase real output, contrary to what occurs with other tax increases.
C. reduce real output by less than other tax increases.
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Some economists believe that the Asian crisis in 1997
A) could have been avoided if stronger action had been taken by major countries and international agencies. B) was inevitable since most of the economies were experiencing slow economic growth. C) was made worse by the refusal of the IMF to take any actions. D) was necessary to rid those economies of inflation.
The figure above shows the market for tires. According to the figure, the government collects ________ per month in total tax revenue
A) $600 million B) $1,200 million C) $2,000 million D) $900 million E) None of the above answers is correct.
Which of the following is NOT included in the income approach to measuring GDP?
A) net interest B) net exports C) corporate profits D) compensation of employees
During the 2011 to 2012 period, the wage premium of union workers, when compared to similar nonunion workers, was approximately
a. 9 percent. b. 20 percent. c. 28 percent. d. 33 percent.