Which of the following will NOT cause the public debt to change?
A. government budget surplus
B. government budget deficit
C. an amount of tax collection by the government more than it spends
D. balanced budget
Answer: D
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Suppose that you are earning the maximum amount of money within the 28% tax bracket. If you receive a $1000 raise next year this will place you in the 33% tax bracket. Calculate your tax burden and the amount of increase in your "take-home" pay
What will be an ideal response?
The Bretton Woods agreements in 1944
A. established the International Monetary Fund. B. sanctioned world trade on the gold-exchange system. C. allowed nations to devalue their currencies under certain conditions. D. All of the above are correct.
Suppose you are producing where MC = AVC = $3 and this is loss minimizing. If market reports predict that the price of your product will reach a long-run equilibrium level that is $4 higher than it is today, you should
a. increase output in advance of the expected price increase b. remain in business c. shut down d. remain in business only if your most efficient production level has an average total cost less than or equal to $7 e. shut down until the price increases, then get back in business
Which of the following is not always correct for a closed economy?
a. National saving equals private saving plus public saving. b. Net exports equal zero. c. Real GDP measures both income and expenditures. d. Private saving equals investment.