When taxation is proportional, the tax rate an individual pays:
A. remains constant as the individual's income increases.
B. falls as the individual's income increases.
C. increases as the individual's income increases.
D. varies as the individual's income changes.
Answer: A
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In the national income accounts, government expenditure on goods and services exclude
A) transfer payments. B) state and local government purchases. C) local government purchases but include state government purchases. D) spending on national defense.
Since the growth in the money supply is unrelated to government spending, fiscal policy and monetary policy can be conducted independently
a. True b. False Indicate whether the statement is true or false
Which of the following is the most direct cause of lung cancer?
a. smoking cigarettes b. buying lighters c. giving a packet of cigarettes to someone d. watching actors on TV smoking cigarettes
The U.S. Treasury estimates that the fraction of U.S. currency held outside the United States is:
A. about half. B. between one-half and two-thirds. C. less than 10%. D. about one-fourth.