The marginal tax rate and the average tax rate are the same under a
A) progressive income tax system.
B) regressive income tax system.
C) proportional income tax system.
D) none of the above.
C
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Which of the following about unemployment is true?
a. The unemployment rates of the major European economies have been lower than that of the United States during the last decade. b. Compared to the U.S., European labor markets are characterized by less extensive regulation and less generous unemployment benefits. c. High unemployment rates over lengthy time periods are indicative of structural factors that are adversely affecting the natural rate of unemployment. d. The natural rate of unemployment decreases when youthful workers expand as a proportion of the workforce.
China began pegging its currency, the yuan, to the U.S. dollar in 1994. Because the yuan has been ________ at the pegged exchange rate, the Chinese government ________ its reserves of U.S. dollars as the government purchased more ________ to maintain the pegged exchange rate.
A) undervalued; increased; dollars B) undervalued; decreased; yuan C) overvalued; decreased; yuan D) overvalued; increased; yuan
The expected benefit of investment equals:
A. the real interest rate. B. private saving. C. the price of the capital good. D. the value of the marginal product of capital.
The quantity of items circulating in the economy that can be used as money is called
A) representative commodity money. B) the money supply. C) commodity money. D) fiat money.