As conventionally measured, budget deficit and surplus calculations include the revenues and expenditures of
a. only current government operations; government trust funds are omitted.
b. all government trust funds except Social Security.
c. the Social Security Trust Fund, but other government trust funds are omitted.
d. all government trust funds, including Social Security.
D
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The Fed has announced that it plans to lower the rate of monetary growth from 10% per year to 2% per year. You would expect this announcement to directly
A) increase money demand, shifting the LM curve up and to the left. B) increase money demand, shifting the LM curve down and to the right. C) decrease money demand, shifting the LM curve up and to the left. D) decrease money demand, shifting the LM curve down and to the right.
For a theme park a two-tier tariff can include a positive admission price and a zero per-ride fee
What will be an ideal response?
A payroll tax with a 4.5 percent tax rate and exemption for income above $42,000 is
A. a progressive tax. B. an indirect tax. C. a regressive tax. D. a proportional tax.
The Coase theorem states that when a market failure exists
A. government control of pollution is necessary. B. homeowners and those affected by the pollution will control the level of pollution. C. the outcome will be the same regardless of who owns the property right. D. the polluter will control the level of pollution.