If a government decides to move from a regressive tax system to a progressive tax system, there will be a(n) ________ in equity and a(n) ________ in efficiency
A) increase; increase
B) decrease; decrease
C) increase; decrease
D) decrease; increase
C
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Sharecropping successfully replaced the slavery system
Indicate whether the statement is true or false
Andrea Schwatz has argued that the Great Depression was caused by
a. the fall in the stock of money. b. the fall in consumer durable spending. c. the fall in investment spending. d. the increase in nominal wages.
In the graph shown, what would eliminate a trade deficit if there were one?
A. Foreign wages rise relative to domestic wages. B. The exchange rate appreciates. C. Domestic reservation wages rise. D. Government runs expansionary policy.
Suppose that you borrow $10,000 for one year, and at the end of the year, you must repay $10,450. Also, during that year inflation was 2.5%. The real interest rate is
A. 12.0 percent. B. 7.0 percent. C. 2.0 percent. D. 4.5 percent.