If the government faced a balanced budget rule, it would be forced to raise taxes or decrease spending during a recession
a. True
b. False
Indicate whether the statement is true or false
True
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Business debt is an example of a lagging indicator
Indicate whether the statement is true or false
Gary Franklin is a movie critic. He invented the Franklin Scale with which he rates movies from 1 to 10 (10 being best). When asked about his scale, Mr. Franklin explained "that it is a subjective measure of movie quality
A movie with a ranking of 10 is not necessarily 10 times better than a movie with a ranking of 1, but it is better. A movie with a ranking of 5 is better than a movie with a ranking of 1, but is not as good a movie with a ranking of 10. That's all it really tells you." Based on Mr. Franklin's description, his scale is: A) ordinal but not cardinal. B) cardinal but not ordinal. C) an objective standard to judge movies. D) neither cardinal nor ordinal.
Assume the marginal tax rate is 12 percent for the first $40,000 of income, 28 percent for income between $40,000 and $100,000, and 30 percent for any income over $100,000. If Sarah has taxable income equal to $120,000 for the year, what is her tax bill?
A. $36,000. B. $33,600. C. $34,000. D. $27,600.
The initial dollars spent to eliminate pollution are most likely ______.
a. all that are needed b. completely wasted c. the least efficient d. the most efficient