The Tax Reforms of 1981 and 1986
a. caused public debt to increase dramatically
b. raised the marginal tax rates
c. increased the number of tax brackets
d. were made principally on excise taxes
e. increased the government's ability to discriminate with respect to who pays what taxes
A
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Unemployment increases when
A) an inflationary gap is created. B) potential GDP increases. C) the government decreases its expenditure on goods and services. D) aggregate demand increases. E) aggregate supply increases.
The large number of bank failures in the 1980s compared to the number of failures in earlier decades appears to be evidence __________ the existence of __________ problem in deposit insurance
A) supporting; a moral hazard B) supporting; an adverse selection C) against; a moral hazard D) against; an adverse selection
Regarding fixed costs of entry
A) both incumbents and potential entrants are affected by them. B) potential entrants are affected by them while incumbents are not. C) neither incumbents nor potential entrants consider them. D) incumbent's decisions are affected by them, while the potential entrant ignores them.
In a command economy, the basic economic questions are answered by:
a. central authority. b. individual buyers and sellers. c. the traditional methods. d. none of these.