Expansionary monetary policy decreases the federal funds rate
Indicate whether the statement is true or false
TRUE
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For any given change in taxes, the multiplier
a. will work indirectly through consumption. b. effect will occur in two steps. c. effect will be smaller than for an equivalent dollar change in government spending. d. All of the above are correct.
Which of the following is definitely true if the economy is in macro equilibrium?
A. The price level is optimal, but the output level may not be B. The output level is optimal, but the price level may not be C. The price level and the output level are both optimal D. The price level and the output level may or may not be optimal.
Comparative advantage emerges because of the presence of
What will be an ideal response?
Suppose you are making $50,000 per year and paying $5,000 per year in income taxes. You get a $10,000 per year raise and your income taxes are now $6,500 per year. Based on this information, the income tax system is
A) proportional. B) progressive. C) regressive. D) bracketed.