Which of these is not a good example of skill-biased technical change?
A) GPS navigation equipment in delivery trucks
B) web-enabled virtual classrooms
C) self-service check out scanners
D) use of robots in automobile assembly
B
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If the current account balance is negative, net interest is $100 billion and net transfer is -$100 billion, then
A) exports exceed imports. B) imports exceed exports. C) the official settlements account must be positive. D) real GDP exceeds potential GDP. E) the official settlements account must be negative.
Which statement is false?
A. There are now nine federal personal income tax brackets. B. Most people pay more in Social Security tax than in personal income tax. C. We pay more in direct than indirect taxes to the federal government. D. None of these statements are false.
Static tax analysis assumes
A) all of the present tax rates will be in place for a minimum of twenty years. B) changes in the tax rates have no effect on the tax base. C) changes in the tax rates have no effect on tax revenue. D) changes in the tax rates will change the tax base.
The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.