Bracket creep forces taxpayers to pay a larger percentage of their income in taxes when which of the following occurs?
(a) The emergence of high unemployment
(b) Inflation
(c) Deflation
(d) The growth of trade deficit(s)
(b)
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As the amount of labor used in production increases, total product
a. increases at low levels of labor and decreases at high levels labor. b. increases at high levels of labor and decreases at low levels of labor. c. always increases. d. always decreases.
For banks
A) return on assets exceeds return on equity. B) return on assets equals return on equity. C) return on equity exceeds return on assets. D) return on equity is another name for net interest margin.
Dry cleaning of clothing produces air pollutants. Therefore, in the market for dry cleaning services, the equilibrium price
A) and output are too low to be optimal. B) and output are too high to be optimal. C) is too low to be optimal, and equilibrium quantity is too high. D) is too high to be optimal, and equilibrium quantity is too low. E) is optimal, but there is an excess supply.
If a nation's real GDP is growing by 5 percent per year, its real GDP will double in approximately:
A. 22 years. B. 20 years. C. 14 years. D. 8 years.