In 2009, President Obama proposed raising the income tax on those making over $250,000 per year. Discuss the merits of this plan.
What will be an ideal response?
The debate is still ongoing. Some argue that this group creates jobs and is comprised of small
business owners. Increasing taxes will stall job creation and thus slow the economy. Others
argue that increases would be minimal and would lead to greater wealth creation for all and
thus stimulate the economy.
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The above figure shows the market for hamburger. Which figure shows the effect of an announcement by the U.S. Food and Drug Administration (FDA)that eating hamburger causes early death?
A) Figure A B) Figure B C) Figure C D) Figure D
The trade balance component of aggregate demand is a function of all the following EXCEPT:
a. foreign disposable income. b. domestic disposable income. c. the real exchange rate. d. consumer spending.
With 125 million people working, 8 million out of work and looking for work, and 147 million neither working nor looking for work, the unemployment rate would be
A. (6.4% (8/125)*100%). B. (55.5% (8+147)/(125+8+147)*100%). C. (2.9% (8/(125+8+147)*100%). D. (6.0% (8/(125+8)*100%).
The restaurant industry is an example of a(n) ________ industry.
A. perfectly competitive B. oligopolistic C. monopolistically competitive D. monopolistic