Horizontal equity can be determined by comparing the
A. Marginal tax rate of the taxpayer with the highest nominal income to the marginal tax rates of taxpayers with lower nominal incomes.
B. Marginal tax rates for two taxpayers with the same nominal incomes.
C. Effective tax rate of the taxpayer with the highest nominal income to the effective tax rates of taxpayers with lower nominal incomes.
D. Effective tax rates for two taxpayers with the same nominal incomes.
Answer: D
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Which of the following is an example of crowding out?
a. An increase in government spending increases interest rates, causing investment to fall. b. A decrease in private savings increases interest rates, causing investment to fall. c. A decrease in the money supply increases interest rates, causing investment to fall. d. An increase in taxes increases interest rates, causing investment to fall.
Total reserves of private banks are
A. all customer deposits. B. federal reserve notes. C. deposits held at the Fed and vault cash. D. the minimum amount banks need to hold against time deposits.
________ might cause the borrowing constraint to become non-binding, even though the consumer still cannot borrow
A) An increase in future (expected) income B) An increase in the real interest rate C) A decrease in current income D) A decrease in the real interest rate
The rule of reason was applied in the:
a. Standard Oil case. b. U.S. Steel case. c. American Tobacco Trust case. d. All of these.