In the 1980s, marginal tax rates on high income taxpayers fell from 70 to 28 percent. Tax revenues coming from the top 1 percent of income earners _____
a. fell as a percentage of income
b. fell in total, but not as a percentage of income taxes paid by all taxpayers
c. fell compared to middle-class taxpayers
d. increased as a percentage of income taxes paid by all taxpayers
d
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A U.S. citizen buys a newly issued share of stock in England, paying for his order with a check, which the British company deposits in its own U.S. bank account in New York. How is this transaction accounted for in the balance of payments?
A) financial account, U.S. asset export B) current account, U.S. service import C) current account, British good export D) financial account, British asset import E) financial account, U.S. asset import
What is the difference between a sterilized and non-sterilized central bank intervention in the foreign exchange market?
What will be an ideal response?
Suppose a person's utility for leisure (L) and consumption (Y) can be expressed as U = Y + L0.5. Show what happens to the person's labor supply curve when the income tax is cut from 70 percent to 30 percent
Denote hours worked as H and wage per hour as w.
Which of the following statements is not true about the economy of the Middle Colonies?
a. It was a net importer of food. b. The farms were generally smaller than those in the South. c. Wheat and flour were exported from this region. d. Its main agricultural products were grains.