Which definition(s) of the money supply include(s) only items that are directly and immediately usable as a medium of exchange?
A. neither M1 nor M2
B. M1
C. M1 and M2
D. M2
Answer: B
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Last year you earned $45,000 and paid $9,000 in income taxes. This year you earned $60,000 and paid $15,000 in income taxes. What kind of income tax do you face?
A) regressive B) progressive C) proportional D) traditional
Food stamps are an example of an in-kind transfer payment
a. True b. False
A government is thinking about increasing the sales tax rate. Should it use static or dynamic tax analysis? Explain why one approach is better than the other
What will be an ideal response?
What three factors did Keynes identify that affect consumption expenditures?
a. Disposable income, expected future income, and wealth or credit b. Total income, expected future income, and wealth or credit c. Disposable income, inflation rate, and wealth or credit d. Total income, expected future income, and inflation rate