One of the key outcomes of the 2010 mid-term elections was that
A. a national sales tax was created and replaced the income tax.
B. 1986 tax increases were repealed in 2011.
C. iraqi oil revenues were taxed by the U.S. to provide care for disabled Iraqi War veterans.
D. 2003 tax cuts were continued for everyone through the end of 2012.
Answer: D
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Explain why deflation could prevent people from being able to repay their debts
What will be an ideal response?
The rate a bank pays for deposit insurance should be independent of the investments undertaken by the bank with depositors' funds
Indicate whether the statement is true or false
Which of the following statements best describes “bracket creep” within the U.S. income tax code?
a. Until the late 1970s, if real wages increased along with inflation, people were moved into higher tax brackets and owed a higher proportion of their income in taxes, even though their nominal income had not risen. b. After the late 1970s, if real wages increased along with inflation, people were moved into higher tax brackets and owed a higher proportion of their income in taxes, even though their nominal income had not risen. c. Until the late 1970s, if nominal wages increased along with inflation, people were moved into higher tax brackets and owed a higher proportion of their income in taxes, even though their real income had not risen. d. After the late 1970s, if nominal wages increased along with inflation, people were moved into higher tax brackets and owed a higher proportion of their income in taxes, even though their real income had not risen.
Find the size of the labor force from the following data: frictional unemployment = 150, structural unemployment = 200, cyclical unemployment = 225, discouraged workers = 25, underemployed workers = 75, fully employed workers = 850, total population = 2,000
a. 1,425 b. 1,450 c. 1,500 d. 1,525 e. 2,000