Taxes are generally classified into these three categories:
A. progressive, regressive, lump-sum
B. progressive, regressive, proportional
C. proportional, flat tax, gradual
D. gradual, proportional, progressive
B. progressive, regressive, proportional
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A depression is:
A. a particularly severe and protracted recession. B. the low point of economic activity prior to a recovery. C. the high point of economic activity prior to a downturn. D. a particularly strong and protracted expansion.
Answer the following questions true (T) or false (F)
1. Consider a country that produces only two goods: parrots and iguanas. Suppose it is impossible for this country to increase its production of parrots without producing fewer iguanas. In this case, its current output combination is efficient. 2. Any output combination along a production possibilities frontier is associated with fully utilized resources. 3. A decrease in population shifts the production possibilities frontier outwards over time.
During the financial crisis of 2007–2009, why did the Federal Reserve begin to utilize various types of unconventional monetary policy?
A. The federal funds rate had already been increased as much as possible. B. The discount rate had already been increased as much as possible. C. The federal funds rate had already been reduced to zero. D. The discount rate had already been reduced to zero.
A devaluation of a currency means that the exchange rate (price of that currency) has changed to a lower fixed rate
a. True b. False