The Bush tax cuts
A. reduced tax rates for the upper brackets and increased tax rates for lower-income taxpayers.
B. reduced tax rates for the upper brackets and held constant tax rates for lower-income taxpayers.
C. reduced tax rates for the upper brackets and decreased tax rates for lower-income taxpayers.
D. held constant tax rates for the upper brackets and decreased tax rates for lower-income taxpayers.
E. Increased tax rates for the upper brackets and decreased tax rates for lower-income taxpayers.
Answer: C
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When a U.S. company purchases $1 million worth of French cheese, the value of that transaction is recorded in the
A) current account. B) capital and financial account. C) transfer account. D) investment account. E) goods account.
We know that industrial countries tend to trade with other industrial countries. This pattern counters the:
a. preference theory of comparative advantage. b. factor abundance theory of comparative advantage. c. concept of intraindustry trade. d. product life cycle theory of comparative advantage. e. human skills theory of comparative advantage.
Which of the following is true concerning the national debt?
a. It equals the budget deficit. b. When the budget deficit is declining, the national debt will fall. c. A budget deficit will reduce the national debt. d. A budget surplus will reduce the national debt.
It is claimed that mutual funds have two advantages. The first is that mutual funds allow people with small amounts of money to diversify. The second is that mutual funds provide the skills of professional money managers who buy stocks they believe will be the most profitable and thereby increase the return that mutual fund depositors earn on their savings
a. Economists strongly agree with both claims. b. Economists are skeptical of both claims. c. Economists are skeptical of the first claim, but strongly agree with the second. d. Economists strongly agree with the first claim, but are skeptical of the second.