How does the United States compare to other nations on a per capita scale as far as government production and taxation?
Government production as a share of GDP is relatively low compared with other countries. Perhaps more surprising is that U.S. citizens are perhaps the most lightly taxed, at 30 percent of GDP. The cry for "No more taxes" may reflect a concern with government inefficiency, but Americans are mistaken if they believe their tax burden is high compared to other countries.
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Suppose you have one U.S. dollar with which you wish to purchase U.K. (one-year) bonds in period t. Which of the following expressions represents the amount of U.K. pounds you will receive in one year (i.e., period t + 1 ) from purchasing U.K. bonds in period t?
A) i B) 1 + i C) (1 + i)Eet+1/Et D) (1 + i)Et/Eet+1 E) none of the above
The Phillips Curve relationship is most closely associated with:
a. Cost-push inflation. b. Demand-pull inflation. c. Push-push inflation. d. Excessive government regulation. e. The appreciation of exchange rates for open economies that rely heavily on foreign inputs.