Which of the following tax systems is the most fair?
a. proportional taxes
b. regressive taxes
c. progressive taxes
d. There is no objective way to assess fairness among the three systems.
d
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How many prices would there be in a barter economy with 100 goods?
A) 100 B) 1,000 C) 4,950 D) 10,000
A liquidity trap is
a. the vertical portion of the LM schedule. b. the horizontal portion of the LM schedule. c. a situation where a given change in the money stock induces a large reduction in the interest rate. d. Both a and c e. Both b and c
An increase in the Federal minimum wage, assuming the minimum is higher than equilibrium wage and that all other things remain constant, will:
A. reduce the number of unemployed. B. shift the supply of labor to the right. C. increase the number of unemployed. D. shift the demand of labor to the right.
To prevent monetary policy from becoming highly politicized, many countries have:
A. Made their central banks be politically independent B. Put their central banks under the full control of their law-making agencies C. Allowed the heads of their central banks to serve for very short terms D. Made elected officials be the heads of their central banks