The maximum federal marginal tax rate on taxable personal income is, as of 2013:
A. 50 percent.
B. 39.6 percent.
C. 35 percent.
D. 28 percent.
Answer: B
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Risky transactions are those in which:
A. complete information is not available. B. there is an balance of information between buyer and seller. C. one party to a transaction uses the other party's lack of information to their advantage. D. one party withholds information from the other party and uses that to his advantage.
As a result of moving more decision making from the center toward the periphery of the organization, typically
a. the flow of information to the decision maker that is relevant to the decision should be enhanced b. the flow of information from the decision maker that is relevant to the decision should be enhanced c. the incentives to make good decisions should be strengthened d. the procedures for the flow of information that is relevant to the decision can be relaxed
If the quality or quantity of a particular public service is very difficult to monitor, government is more likely to
a. produce the service itself b. contract with private firms to supply the service c. take over private corporations to produce the service d. refuse to provide the service e. raise the price to consumers of the service
The structural deficit or surplus
a. shows the government where to make cuts in expenditures to follow the balanced budget requirement. b. reveals the complicated structure underlying government spending and tax policy. c. is the hypothetical deficit or surplus under current fiscal policies if the economy were operating near full employment. d. includes all government budgets-federal, state, and local.