In which of the following situations is Mahmut using a rule of thumb?
a. He chooses to take the bus to work instead of riding his bike because he injured his knee.
b. He switches brands of deodorant because the store didn’t have his usual scent in stock.
c. Before moving, he holds a yard sale but doesn’t sell much because his prices are too high.
d. While traveling, he eats at a restaurant because its décor reminds him of his favorite restaurant back home.
d. While traveling, he eats at a restaurant because its décor reminds him of his favorite restaurant back home.
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Of the three primary tax sources of revenue for the U.S. federal government, which of the following has displayed no long-term trend as a percentage of GDP since 1962?
A) corporate income taxes B) social insurance taxes C) sales and excise taxes D) individual income taxes
Answer the following questions:
a. What are the three types of unemployment, and which two compose the natural rate? b. Give an example of a person who would be counted in each type. c. Would an economy with 2 percent actual unemployment be in a recession? Why or why not?
The lowest the poverty rate has been during the last 50 years was in
A. 1960. B. 1967. C. 1973. D. 1979.
Fiscal policy affects the ________ market through changes in taxes and government spending.
A. money B. goods C. bond D. federal funds