A proportional income tax means that those with a higher income pay
A. a lower percentage of their income in taxes than low-income people.
B. the same percentage of their income in taxes as low-income people.
C. a higher percentage of their income in taxes than low-income people.
D. all the taxes in the economy.
Answer: B
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One of the characteristics of financial repression is
(a) negative real interest rates. (b) lack of credit rationing. (c) capital flowing to the highest rate of return. (d) all of the above. (e) none of the above.
The game that oligopolists play in trying to reach the oligopoly outcome is similar to the game that the two prisoners play in the prisoners' dilemma
a. True b. False Indicate whether the statement is true or false
Which of the following is not an argument used in favor of protectionism?
a. To preserve national security. b. To reduce prices paid by domestic consumers. c. To protect against "unfair" competition because of cheap foreign labor. d. To protect an "infant" industry. e. To protect domestic jobs.
Which of the following examples is most likely the result of a contractionary monetary policy?
a. Ebba goes on a buying spree online. b. Lars invests a large amount of money in a CD. c. Alma decides that now is the best time to buy a sports car. d. Emil takes out a loan to add an extension to his house.