In the area of taxation, the trade-off between equity and efficiency
A. never occurs since efficient taxes are often the most progressive.
B. is relevant as efficient taxes are often regressive.
C. is irrelevant.
D. is relevant because efficient taxes are often progressive.
Answer: B
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The inflation gap can best be described as:
A) the percentage difference between GDP and its potential B) the difference between inflation and its target C) the change in the inflation rate from one year to the next D) the difference between the inflation rate and the average inflation rate of that of the nations with the 3 lowest inflation rates
In 2010, in order to stimulate capital investment, President Obama proposed
A. a reduction in real interest rates. B. an increase in the money supply. C. increased write-offs for businesses purchasing equipment. D. an increase in the tax on capital gains.
If you know that total fixed cost is $200, total variable cost is $600, and total product is 4 units, then average total cost must be:
A. $200 B. $250 C. $800 D. $3200
A rightward shift of the aggregate demand curve leads to
A) an upward movement along the short-run Phillips curve. B) neither a movement along nor a shift in the short-run Phillips curve. C) a downward movement along the short-run Phillips curve. D) a leftward shift of the short-run Phillips curve. E) a rightward shift of the short-run Phillips curve.