Part of the increase in currency holdings in the 1960s and 1970s can be attributed to
A) increases in income tax rates.
B) the switch from progressive to proportional income taxes.
C) the adoption of regressive taxes.
D) bracket creep due to inflation and progressive income taxes.
D
You might also like to view...
The table below shows the quantity of labor (measured in hours) and the productivity of labor (measured in real GDP per hour) in a hypothetical economy in three different years.
Refer to the above table. Between Year 2 and Year 3, real GDP increased by:
A. 2 percent
B. 5 percent
C. 10 percent
D. 15 percent
Anna was willing to pay $130,000 for Betty’s house, which was listed at $125,000, but Anna could only afford to spend $120,000. After negotiating, Betty sold Anna the house for $120,000. How does consumer surplus apply to this situation?
a. The consumer surplus is indeterminable because we do not know how much Betty paid for the house. b. The consumer surplus is $5,000 because Anna got Betty to lower her price by that amount. c. The consumer surplus is $10,000 because Anna was willing to pay that much more than she did. d. There is no consumer surplus because Anna did not pay less than she was willing and able to pay.