An average tax rate is calculated as
A) total taxable income × taxes paid.
B) taxes paid ÷ total taxable income.
C) (total taxable income - taxes paid) ÷ taxable income.
D) total taxable income ÷ taxes paid.
B
Economics
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________ refers to a decrease in the willingness of banks to lend, while an impairment of the ability of nonfinancial firms to borrow is a consequence of ________
A) Adverse selection; moral hazard B) Deleveraging; debt deflation C) Fire sales; a bank panic D) The shadow banking system; agency theory
Economics
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
Economics