During World War I (1914–18), the government did not have to rely on which one of the following reallocation devices?
(a) Inflation
(b) Taxes
(c) Borrowing
(d) Rationing
(d)
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Discrimination occurs when the marketplace offers different opportunities to similar individuals who differ only by
a. race. b. level of education. c. attitudes toward risk. d. All of the above are forms of discrimination.
Which of the following owns the largest portion of the U.S. national debt?
A. State and local governments. B. The federal government. C. Foreigners. D. The private sector.
Suppose that financial market participants expect that the central bank will pursue a monetary expansion in the future. Also assume that the yield curve is initially upward sloping. Given this information, we would expect which of the following to occur?
A) The yield curve will become steeper. B) i2t will increase. C) i2t will decrease. D) The yield curve will become downward sloping.
What is meant by tax incidence? Is the entire burden of the tax always borne by those on whom it is imposed?
What will be an ideal response?