If a taxpayer who qualifies for the EITC receives a credit larger than the amount of taxes due, then ____
a. they loose that portion of the credit
b. they are allowed to apply it towards future tax liabilities
c. it is refunded at a 50 percent rate
d. it is refunded at a 100 percent rate
d
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Moving along the short-run Phillips curve, a ________ unemployment rate can only be achieved by paying the cost of ________
A) lower; a lower inflation rate B) lower; a lower price level C) lower; a higher expected inflation rate D) lower; a higher inflation rate E) higher; a higher inflation rate
A reduction of the discount rate by the Federal Reserve Banks has the direct effect of
A) making it less costly for commercial banks to borrow from the Fed. B) making it more costly for the Treasury to finance deficits. C) increasing commercial bank reserves. D) increasing the stock of money. E) doing all of the above.
Asymmetric information increases the economic value that an agreement between two parties creates
Indicate whether the statement is true or false
In the U.S., the two components of the receiving water quality standards are
a. the BAT and the BCT b. use-support status and effluent limitations c. the use designation and water quality criteria d. the zero discharge goal and the NPDES