Government debt is different from individual debt because
A) the government can always tax to reduce it.
B) the government cannot declare bankruptcy.
C) the government does not need to pay interest.
D) the government can decide the interest rate.
A
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Answer the following statement(s) true (T) or false (F)
1. For the first time in U.S. history, the EPA has set GHG emissions standards for passenger cars and light-duty trucks for model years 2012 through 2016 and for medium- and heavy-duty vehicles for model years 2014 through 2018. 2. Under the new GHG emissions standards for mobile sources, light-duty vehicles will have to achieve an average emissions level of 250 grams of carbon dioxide (CO2) for model year 2016. 3. The two new national programs aimed at improving fuel efficiency and reducing GHG emissions are strictly command-and-control with no market-based initiatives. 4. Under the Clean Air Act, the emissions controls on mobile sources were set using benefit-cost analysis.
Kim is paid $50,000 per year, and pays an annual income tax of 10 percent. Due to an inflation rate of 10 percent, her pay increases to $55,000, which puts her in a higher tax bracket where she must pay 20 percent. Which of the following can be said of Kim?
A. Inflation caused her to be taxed more heavily and decreased her purchasing power. B. Inflation caused her to be taxed more heavily and increased her purchasing power. C. Her raise reflects the inflation rate, and therefore her purchasing power is unchanged. D. Inflation caused her to be taxed more but didn’t change her purchasing power.
Which of the following is not a source of technological advancement for a producer?
A) better trained workers B) more efficient physical capital C) higher skill level of managers D) outsourcing some aspect of production
Business cycles can be described best as
(a) being pervasive during the antebellum period but their effects were isolated to the private sector. (b) being pervasive during the antebellum period but their effects were isolated to the public sector. (c) being pervasive during the antebellum period and their effects were felt both in the private and public sectors. (d) uncommon during the antebellum period but their effects were felt significantly when present.