The American individual income tax is:
A. progressive.
B. regressive.
C. proportional.
D. a lump sum.
A. progressive.
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Which of the following statements is true?
a. Exports tend to decrease economic efficiency. b. A nation should specialize in producing a good in which it has an absolute advantage. c. A nation should specialize in producing a good only when it has both an absolute and a comparative advantage. d. A nation should specialize in producing a good in which it has a comparative advantage. e. International trade does not reflect the benefits of specialization.
The chief economic cost of unemployment is
a. the value of the leisure that is lost when people are unemployed b. the cost to employed citizens of paying unemployment benefits c. money spent on the job search process d. the chance that the unemployed might turn to crime to support themselves e. the value of output that could have been produced, but is not
During the 2007-2009 financial crisis which of the following temporarily became the largest component of assets on the Fed's balance sheet:
A. foreign exchange reserves. B. U.S. Treasury securities. C. loans. D. mortgage backed securities.
As incomes increase worldwide, in addition to increased energy use, we expect to see use (and relative share) of grains and oilseeds used for animal feed
a. increase in highly developed economies only b. to decrease worldwide c. to increase worldwide d. stay at relatively the same share