As a proportion of domestic output, taxes in the United States:
A. are lower than in most other industrially advanced countries.
B. are higher than in most other industrially advanced countries.
C. are approximately the same as in most other industrially advanced countries.
D. doubled in the 1990s.
Answer: A
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In which of the following tax systems do taxes increase as income increases?
a. both proportional and progressive b. proportional but not progressive c. progressive but not proportional d. neither proportional nor progressive
Consider two economies: A and B. The nominal interest rate is the same in both economies, but the rate of inflation is higher in economy B. Which of the following statements will then be true?
A) The real interest rate will be the same in both economies. B) The real interest rate will be higher in economy B. C) The real interest rate will be higher in economy A. D) Whether the real interest rate is higher in economy A or B will depend on the number of borrowers in both economies.
Which of the following is TRUE regarding money market mutual funds?
I. Money market mutual funds buy highly liquid assets like Treasury bills. II. Shareholders can obtain loans from money market mutual funds. A) I only B) II only C) both I and II D) neither I nor II
Some of the newer pollutants that have appeared
a. are far more visible to the eye than older pollution. b. cause damage that is easily reversible. c. pose no significant long-term hazards. d. are far more dangerous than older forms of pollution.