Today the typical American pays approximately what percent of income in taxes, including all federal, state, and local taxes?
a. 5 percent
b. 25 percent
c. 35 percent
d. 50 percent
b
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The policy tool of "credit easing" refers to the ________
A) Treasury's issuance of federal debt to finance home buying B) federal government's requirement that the Fed must lend directly to home buyers C) Fed's requirement that the federal government must lend to directly to home buyers D) Fed's purchase of private securities to stimulate banks' lending E) Fed's lowering of the federal funds rate to zero
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the real risk-free interest rate and real GDP in the context of the Three-Sector-Model?
a. The real risk-free interest rate falls, and real GDP rises. b. The real risk-free interest rate and real GDP remain the same. c. The real risk-free interest rate rises, and real GDP falls. d. The real risk-free interest rate falls, and real GDP remains the same. e. The real risk-free interest rate falls, and real GDP falls.
Contrast a fixed-rate exchange rate system and a flexible-rate exchange system in terms of a foreign currency shortage precipitated by an increase in U.S. demand for a foreign good.
What will be an ideal response?
In the United States, most people's wealth comes from
A. transfer payments. B. saving. C. inheritance. D. profits.