The three largest categories of spending by the Federal government in order from first to third would be
a. income security, net interest, and national defense
b. national defense, net interest, and income security
c. income security, health, and national defense
d. health, income security, and national defense
c
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To make sure that no one group could dominate the direction of monetary policy, the 1913 Federal Reserve Act diffused power in all of the following ways except
A) geographically. B) between the public and private sectors. C) internationally. D) within the government.
The more elastic the demand curve, the smaller is the deadweight loss resulting from the imposition of a tax
a. True b. False Indicate whether the statement is true or false
In 2005, the median income of renters was $26,317 and the median income of homeowners was $50,505 . If imputed rent were added to household income or rent became deductible, the personal income tax would become
a. more progressive. b. more regressive. c. about proportional. d. less progressive.
The unemployment rate is the number of unemployed people, expressed as
a. a ratio of total employed to the population. b. a ratio of unemployed to the total employed. c. a percentage of the labor force. d. a percentage of the population.