________ seem as a group to be mildly regressive and ________ seem as a group to be mildly progressive.
A. Federal and state taxes; local taxes
B. Federal taxes; state and local taxes
C. State and local taxes; federal taxes
D. Local taxes; federal and state taxes
Answer: C
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If the Fed wants to lower the nominal interest rate in the long run, the Fed ________ the growth rate of the quantity of money
A) raises B) first lowers and then raises C) lowers D) does not change E) None of the above answers is correct because the premise of the question is wrong since the Fed cannot affect the nominal interest rate, only the real interest rate.
Mark owns a cattle ranch near Hugo, Oklahoma. Mark is currently producing beef at an output level where marginal revenue exceeds marginal cost. In order to maximize his profit, Mark should
A) not change his output. B) decrease his output. C) increase his output. D) shut down his ranch. E) probably change his output, but more information is needed to determine if he should increase, decrease, or not change it.
Jason is considering buying stock in a grocery store chain that is going public. He predicts this company will be very profitable. When he buys shares in the company:
a. he will have gained capital. b. he can sell them again through an initial public offering. c. he is agreeing to repay the capital and the interest over a period of time. d. he will own a small percentage of the company.
Which of the following is most likely to cause an increase in demand for land?
a. A large study confirms that citrus fruits have anticancer properties. b. A social media celebrity popularizes outdoor meditation rituals. c. College graduates typically buy their first home in their early thirties. d. The national park saw an increase in overnight visitors this season.