Which of the following is an example of a progressive tax?
a. Social Security tax
b. federal income tax
c. excise tax
d. payroll tax
b
Economics
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Differentiate between an income effect and a substitution effect
What will be an ideal response?
Economics
If the aggregate price level adjusts slowly over time, then an expansionary monetary policy lowers
A) only the short-term nominal interest rate. B) only the short-term real interest rate. C) both the short-term nominal and real interest rates. D) the short-term nominal, the short-term real, and the long-term real interest rates.
Economics