If Christopher earns $80,000 in taxable income and pays $20,000 in taxes, his average tax rate is 20 percent
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following statements is true?
A) Positive economics deals with issues that are subjective. B) Normative statements depend on personal preferences. C) Positive economics recommends what people ought to do. D) Normative economic statements can be confirmed or disproven.
Explain the moral hazard that automobile insurance companies face. What methods do they employ to try to mitigate this problem? Explain carefully
What will be an ideal response?
If the economy experiences a(n) ________, inflation will rise and real GDP will fall
A) negative supply shock B) decrease in aggregate demand C) increase in short-run aggregate supply D) positive supply shock
Attacking inflation through wage/price controls is part of a
a. orthodox stabilization strategy b. response to inertial inflation c. strategy supported by the International Monetary Fund d. response to rapid money supply growth e. none of the above