The payroll tax receipts
a. are used to reduce the national debt.
b. are invested in private business for future payments.
c. pay off current recipients of Social Security payments.
d. go directly into a trust fund for investment in private businesses.
c
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Suppose the nominal annual interest rate on a 2-year loan is 8% and lenders expect inflation to be 5% in each of the two years. The annual real rate of interest is
A. 3%. B. 6%. C. 8%. D. 2%.
Imagine a crude banking system based on a reserve of 100 gold coins, with circulating paper deposit claims on 500 gold coins
This situation is sustainable if, among other things, merchants ________ accept paper claims on gold as payment for their goods, and gold coins withdrawn from the banking system are ________ the system. A) will, returned to B) will, kept out of C) will not, returned to D) will not, kept out of
If the marginal propensity to save (MPS) is 0.10, the value of the spending multiplier is:
a. 1. b. 9. c. 10. d. 90.
Ration coupons are typically associated with which of the following government programs?
a. price floors b. target prices c. soil bank programs d. price ceilings e. minimum wage laws