The "Robin Hood" tax policy, which taxes the rich to give to the poor, is best described by economists as:
a. a proportional tax policy.
b. a regressive tax policy.
c. a poll tax policy.
d. a progressive tax policy.
e. a capital tax policy.
d
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What most accurately describes what happened to earnings in the US between 1914 and 1920?
a. Both nominal and real earnings increased substantially. b. Nominal and real earnings dropped significantly as the World War I triggered a recession. c. Nominal earnings increased slightly, but real wages decreased because of the large inflation. d. A period of deflation led real earnings to increase even though nominal earnings had decreased slightly.
When a person buys a bond of the XYZ Corporation, he or she can expect to
A) pay the corporation a certain amount of money each quarter of the year. B) receive the face value of the bond each year and the face value of the bond when the bond matures. C) receive the coupon rate times the face value of the bond each year and the face value of the bond when the bond matures. D) receive the face value of the bond each year in perpetuity.