The Economic Report of the President
a. discusses recent developments in the economy and presents analysis of current policy issues.
b. is written by the Council of Economic Advisers.
c. is the responsibility of the economists at the Office of Management and Budget.
d. Both a and b are correct.
d
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Capital gains are taxed at a different rate than income and this reduces revenues the government receives. All else equal, what would happen if capital gains taxes were eliminated?
A) They would have to be replaced by a consumption tax. B) The government would not be able to spend money on any programs. C) Everyone would have to pay less in taxes. D) The deficit would increase because of lack of revenues.
Refer to Table 21.2. The middle 20 percent of earners took home ________ of all income earned in Mysteria
A) 9% B) 18% C) 42.9% D) 52.9%