The concept of vertical equity is that
A. income should be taxed instead of property.
B. property should be taxed instead of income.
C. there should be little movement up or down the social scale.
D. persons who are unequal should be treated unequally.
Answer: D
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In 1991 the unemployment rate in the United States rose to 7.1 percent. This is ________ the unemployment rate reached in the depths of the Great Depression
A) about two percentage points more than B) roughly equal to C) about three percentage points less than D) about half of E) less than one-third of
Which of the following is not a possible implication of federal budget deficits?
a. Crowding out b. Increased interest rates c. Inflation d. Increased trade deficits e. Depreciation of the dollar
Suppose AT&T issues a five-year bond with a face value of $10,000 that pays an annual coupon payment of $300. What is the interest rate that AT&T is paying on the borrowed funds?
a. 15% b. 3% c. 10% d. 33%
If the price of inputs falls and the budget deficit rises due to an increase in government spending, then the:
a. Price index rises, and real GDP falls. b. Price index is uncertain, and real GDP rises. c. Price index rises, and the change in real GDP is uncertain. d. Price index falls, and real GDP rises. e. Price index falls, and real GDP falls.