An efficient tax system is one that (i) maximizes tax revenues. (ii) minimizes deadweight losses from taxes. (iii) minimizes administrative burdens from taxes. (iv) promotes equity across taxpayers
a. (i) only
b. (ii) and (iii) only
c. (i), (ii), and (iii) only
d. (i), (ii), (iii), and (iv)
b
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Based on the above table, if the current price level is 100 and the unemployment rate is 4 percent, then the
A) expected inflation rate is 8 percent. B) inflation rate is 2.8 percent. C) expected inflation rate is 2.8 percent. D) inflation rate is 8 percent. E) inflation rate is 108 percent.
How do adverse selection and moral hazard affect the market for insurance?
What will be an ideal response?
What is a monopoly? Can a firm be a monopoly if close substitutes for its product exists?
What will be an ideal response?
The new Keynesian sticky-price theory indicates that an increase in aggregate demand generates
A) a speedy rise in real GDP but a sluggish increase in the price level. B) a speedy rise in the price level but a sluggish increase in real GDP. C) sluggish increases in both real GDP and the price level. D) rapid increases in both real GDP and the price level.