The largest source of tax revenue for the U.S. federal government is the corporate-profit tax.
a. true
b. false
Answer: b. false
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Which of the following is likely to reduce the total efficiency units of labor in an economy?
A) A decrease in the price of capital B) A recession that lowers aggregate demand C) An increase in the price level D) An earthquake that kills several people
Which of the following correctly describes the spending multiplier?
a. The initial change in consumption, investment, government spending, or net exports divided by the change in equilibrium GDP. b. An initial increase in aggregate expenditures divided by the equilibrium GDP. c. An initial increase in aggregate expenditures divided by the change in equilibrium GDP. d. The ratio of the change in real GDP to an initial change in any component of aggregate expenditures.
According to the BLS, the unemployment rate is the percentage of the
a. labor force that is unemployed or working part-time b. labor force that is unemployed and had expressed interest in working c. civilian labor force that is unemployed less the number of government workers d. adult population that is unemployed e. adult population that is unemployed or looking for a better job
Which of the following would be considered a one-time expense?
A. A delivery truck B. Raw materials C. Radio ads D. A manager's salary