The country with the highest child poverty rate in the industrial world is __________.
Fill in the blank(s) with the appropriate word(s).
the United States
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When aggregate economic activity is declining, the economy is said to be in
A) a contraction. B) an expansion. C) a trough. D) a turning point.
The European Monetary Union, which preceded the Euro, was
A) opposed by most politicians. B) favored by most economists. C) likely to improve the use of monetary policy to deal with contractionary shocks which strike only one or two countries in Europe. D) all of the above. E) none of the above.
You are trying to design a tax system that will simultaneously achieve both of the following goals: 1) two people with the same total income would pay taxes of the same amount, and 2) a high-income person would pay a higher fraction of income in taxes than a low-income person. Which of the following tax systems could achieve both goals?
a. a lump-sum tax b. a regressive tax c. a progressive tax d. a proportional tax
Which of the following is an example of a produced factor of production?
a. a plant in which automobiles are assembled b. skills that people accumulate in high school and college c. skills that people accumulate through experience in the workplace d. All of the above are correct.