High-income families pay a significantly greater percentage of their income in taxes compared to low-income families.
Answer the following statement true (T) or false (F)
False
Due to the regressive nature of most state and local government tax systems, along with loopholes in the federal system, as a whole the U.S. tax code is closer to being proportional.
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Suppose the tax rate on interest income is 25 percent, the real interest rate is 4 percent, and the inflation rate is 4 percent. In this case, the real after-tax interest rate is
A) 4.0 percent. B) .5 percent. C) 2.0 percent. D) 1.0 percent. E) 3.5 percent.
The resource market is important from a macroeconomic perspective because
a. it coordinates the allocation of productive resources and determines the costs of production. b. it determines the interest rates faced by borrowers and lenders. c. inflation rates are set in the resource market by the government. d. resource prices determine the position of the long-run aggregate supply curve.
Which of the following statements is true?
A. OLS is a model, whereas feasible GLS is an estimation method. B. OLS is an estimation method, whereas feasible GLS is a model. C. Both OLS and feasible GLS are models. D. Both OLS and feasible GLS are estimation methods.
To justify infant industry protection:
a. firm must move down its average cost curve to produce more output. b. a firm's average cost curve must shift upward over time. c. a firm's total cost curve must shift leftward over time. d. a firm's average cost curve must shift downward over time.