How do high marginal tax rates affect the economic prosperity of a nation?
a. They reduce the incentive of individuals to earn reported income.
b. They encourage the nation's most productive citizens to emigrate to countries where taxes are lower.
c. They discourage foreigners from investing in the country.
d. All of the above are correct.
D
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Pessimists among the classical economists were least able to foresee the continual advancement in
a. managerial techniques b. technology c. birth control methods d. geographic discovery e. all of the above
An increase in oil prices is considered a supply shock because it would lead to a shift of the aggregate supply curve
a. True b. False
Which of the following institutions has the responsibility for distributing currency and coins to the U.S. banking system?
A) the Office of the Comptroller of the Currency B) the Federal Reserve System C) the U.S. Bureau of Engraving and Printing D) the U.S. Treasury Department
Which of the following was not a factor in Japan’s post-World War II economic success?
A. A high rate of investment B. A well-educated workforce C. A high rate of natural resource discovery D. A high rate of technological adoption