Any basket of goods that is missing food and energy items is:
A. called the retail sales index.
B. missing a small portion of a typical consumer's basket.
C. a useless calculation.
D. missing a large portion of consumption.
Answer: D
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Historical evidence shows that the relationship between interest rates and investment is
A) indeterminable. B) positive. C) negative. D) None of the above.
A rise in marginal income tax rates would likely increase the size of the underground economy
a. True b. False
If there is a surplus in the oil market, then the price of oil will:
a. rise. b. fall. c. remain unchanged. d. react unpredictably.
An income tax is defined as regressive if
a. the tax liability of those with higher incomes exceeds the tax liability of those with low incomes. b. the tax liability of those with higher incomes is less than the tax liability of those with low incomes. c. those with higher incomes pay a higher percentage of their incomes in taxes than those with low incomes. d. those with higher incomes pay a lower percentage of their incomes in taxes than those with low incomes.