Which of the following is considered contractionary fiscal policy?
A) The New Jersey legislature cuts highway spending to balance its budget.
B) Legislation removes a college tuition deduction from federal income taxes.
C) Congress increases the income tax rate.
D) Congress increases defense spending.
C
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Which of these forms of financing is generally not employed by very large firms?
A) commercial paper B) medium-term notes C) public debt D) mezzanine funds
Historically, the AMT has always affected a significant number of taxpayers
a. True b. False
Which of the following characteristics does not fit a perfectly competitive market?
A. Numerous small firms B. Identical products produced by all firms in the market C. Each individual firm has a small amount of control over the market price D. Ease of entry and exit from the market
A formal agreement among the firms in an industry to coordinate their production and pricing decisions in order to earn monopoly profits is known as
a. price discrimination b. the kinked demand curve c. monopolistic competition d. a cartel e. joint competition