A flat tax
A. Includes multiple tax brackets.
B. Encourages economic activity through deductions and credits.
C. Is a single-rate tax system.
D. Includes many tax loopholes.
Answer: C
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If your income goes up by 2% and, in response, the quantity demanded of good x rises by 3%, good x can be considered
a. An inferior good b. A normal good c. A public good d. A private good
Which of the following equations is accurate?
a. money interest rate = real interest rate - inflationary premium b. real interest rate = money interest rate + inflationary premium c. real interest rate = money interest rate - inflationary premium d. real interest rate = money interest rate
What level of daily income is the World Bank's measure of extreme poverty?
A. $1.00 B. $3.00 C. $2.25 D. $1.90
Which of the following best defines the IS curve?
A) the combinations of i and Y that maintain equilibrium in the goods market B) illustrates the effects of changes in i on investment C) illustrates the effects of changes in i on desired money holdings by individuals D) the combinations of i and Y that maintain equilibrium in financial markets