In any given year, many people at the tails of the income distribution are only there temporarily _____
a. because of changes in the tax code
b. making it difficult to track them for determining progressivity
c. thereby overstating the progressive nature of the tax system
d. making it important to look at the progressivity of the tax system in terms of lifetime income
d
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Which of the following correctly expresses the Fisher equation?
A. r = i - ?e B. i = r - ?e C. r = i + ?e D. i = r + ?e
Joseph starts driving with much less care after buying car insurance. His behavior is an example of ________
A) moral hazard B) a domino effect C) adverse selection D) herd behavior
Foreign exchange means
a. changing dollars into foreign currency b. domestic currency held to finance international trade c. foreign currency d. trade between governments e. trade between individuals in different countries
In what type of exchange rate system is the level of official reserves the most important?
A. Reserves are equally important in all systems B. A partially-flexible exchange rate system C. A fixed exchange rate system D. A flexible exchange rate system