The distributions of tax burdens among various groups in society is known as
A) a proportional tax.
B) a progressive tax.
C) a regressive tax.
D) tax incidence.
D
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Which of the following statements about the CPI is (are) correct?
i The only significant bias in the CPI is the commodity substitution bias. ii. The CPI probably overstates inflation by 1.1 percentage points a year. iii. As far as the bias in the CPI is concerned, the new goods bias and the outlet substitution biases are irrelevant. A) i only B) ii only C) iii only D) i and iii E) i and ii
In the neoclassical model, an increase in the savings rate
a. causes a more than proportionate increase in the capital to labor ratio. b. results in a less than proportionate increase in the capital to labor ratio. c. results in a proportionate increase in the growth rate of output. d. None of the above
Suppose that your income during Year X was $50,000 . and the CPI for Year X was 150 (base year = Z=100). Back in Year Z your income was $30,000 . Has your real income increased or decreased from Z to year X? By how much?
a. Increased by $5,000. b. Increased by $3,333. c. Unchanged. d. Decreased by $3,333. e. Decreased by $5,000.
The SRAS curve is ____ with real output levels that ____
a. upward sloping; vary positively with the price level b. upward sloping; vary negatively with the price level c. vertical; are equal to the natural level of real output at all price levels d. vertical; can be either greater than or less than the natural level of real output