The Securities and Exchange Commission and the Federal Aviation Administration are examples of agencies engaged in
A) the regulation of natural monopolies.
B) the regulation of nonmonopolistic industries.
C) social regulation.
D) health and safety regulation.
B
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The fiscal and monetary policy alternative to fine-tuning is
A) abandonment of both fiscal and monetary policy. B) abandonment of fiscal policy in favor of exclusive reliance on monetary policy. C) budgets established for the long term and a steady growth rate for the money stock. D) price and wage controls. E) redistribution of income in favor of those with a higher propensity to spend.
The federal government relies most heavily on which source of revenue?
a. individual income taxes b. corporate income taxes c. social insurance payroll taxes d. excise taxes
The invention of the cotton gin ushered in the Industrial Revolution and began a long period of technological innovation. What did this technological change do the short-run supply curve?
A) It shifted the short-run aggregate supply curve to the left. B) It shifted the short-run aggregate supply curve to the right. C) It moved the economy up along a stationary short-run aggregate supply curve. D) It moved the economy down along a stationary short-run aggregate supply curve.
Answer the next question on the basis of the following four tax schedules for the given base of taxable income. IncomeTax ATax BTax CTax D$10,000$650$1,000$500$1,00020,0008502,0001,0003,00030,0009504,0001,5006,00040,0001,0506,0002,0009,500Which of the above tax schedules is a progressive tax schedule throughout?
A. Tax A B. Tax B C. Tax C D. Tax D