A friend tells you he is studying the incidence of the corporate income tax. What is the subject of his study?
A) how frequently corporations should be taxed
B) how inflation affects the amount of tax revenue collected from firms
C) how corporations can aid the government in collecting delinquent taxes
D) how the burden of corporate taxation is distributed among stockholders, employees, and consumers
D
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If the U.S. government decreased its holdings of Mexican pesos, definitely
A) the capital and financial account would increase. B) the capital and financial account would decrease. C) there would be an increase in U.S. official reserves. D) there would be a decrease in U.S. official reserves.
Logrolling refers to attempts by individuals to use government action to make themselves better off at the expense of others
Indicate whether the statement is true or false
According to the modern expectational Phillips curve, unemployment will equal the natural rate of unemployment when
a. any inflation is present. b. inflation turns out to be lower than what people expected. c. inflation turns out to be higher than what people expected. d. inflation turns out to be equal to what people expected.
A bank has $1000 in deposits and maintains a 12 percent reserve ratio. Its reserves are $_____
Fill in the blank(s) with correct word