FICA, the tax that supports Medicare and Social Security, is generally:
A. proportional.
B. progressive.
C. regressive.
D. a flat tax that adjusts with inflation.
C. regressive.
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Refer to Figure 7.1. In this case, the property rights belong to
A) Angus. B) Dudley. C) no one. D) both Angus and Dudley.
Suppose that for several periods the aggregate demand and supply curves have been intersecting at the same point, and at full employment. The central bank increases money growth as a result of an unannounced policy change
Under the assumption of adaptive expectations the likely short-run result is __________ output and __________ price level. A) rising; a rising B) rising; an unchanged C) unchanged; a rising D) unchanged; an unchanged
In a mixed economy
a. all economies choose the same mix of private and public involvement in the economy. b. the government is more important than the private sector in generating output. c. there is some government influence over the workings of the free market. d. all of the above.
If the reserves in U.S. banks totaled $8,000 and total deposits were $100,000, the banking system's reserve ratio would be:
A. 0.08. B. 0.10. C. 0.92 D. 0.80