Changes in tax laws in 1993
A) reduced Federal revenues by making the tax code more regressive.
B) reduced Federal revenues by making the tax code more progressive.
C) increased Federal revenues by making the tax code more regressive.
D) increased Federal revenues by making the tax code more progressive.
D
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Control of the money supply is handled by
A) Congress. B) all commercial banks. C) Congress and all member commercial banks. D) the Federal Reserve System.
The above figure shows the market for gourmet ice cream. In effort to reduce obesity, government places a $2 tax per gallon on suppliers in this market, shifting the supply curve from S0 to S1. The tax incidence is
A) split equally between consumers and producers, each paying $1 per gallon. B) split equally between consumers and producers, each paying $2 per gallon. C) such that consumers pay $2 per gallon and producers pay $1 per gallon. D) such that consumers pay $1 per gallon and producers pay $2 per gallon. E) such that producers pay all of the tax.
Sources of reduced volatility of demand shocks include all of the following EXCEPT
A) smaller ups and downs of military spending. B) residential construction. C) inventory changes. D) saving rates.
In order to see how much production has increased, we need to extract the effects of lower prices on nominal GDP.
Select whether the statement is true or false. A. True B. False