In 2012, the so-called Tax Freedom Day in the U.S. occurred in:
A. February
B. April
C. August
D. June
B. April
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The marginal cost to the phone company of handling a long distance call is likely to be
A) higher the fewer such calls people make. B) higher the more the phone company has invested in equipment. C) substantially less than the price charged for the call. D) substantially more than the price charged for the call.
If the GDP deflator is less than 100 in 2013, then nominal GDP ________ real GDP in 2013
A) is less than B) is greater than C) is equal to D) may be greater than or less than
Which of the following examples would most likely happen if there was a money shortage?
a. Oliver takes all of his money out of CDs. b. Charlotte places half of her paycheck in CDs and half in a checking account. c. Hunter invests 90 percent of his money in U.S. Treasury bills. d. Ruby transfers $10,000 from CDs to a high-interest saving account.
A flat-rate tax structure is one:
a. whose marginal rate increases as income increases. b. whose average rate equals the marginal rate. c. that has graduated rates. d. whose marginal rate decreases as income increases.