In 1991, the base year, GDP was 5000. In 1993 the GDP deflator was 106. We may conclude that
A. GDP rose to more than 5000 in 1993.
B. GDP fell to less than 5000 in 1993.
C. GDP remained at 5000 in 1993.
D. None of the choices are correct.
D. None of the choices are correct.
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Last year, Anthony Millanti earned exactly $30,000 of taxable income. Assume that the income tax system used to determine Anthony's tax liability is progressive
The table below lists the tax brackets and the marginal tax rates that apply to each bracket. a. Draw a new table that lists the amounts of income tax that Anthony is obligated to pay for each tax bracket, and the total tax he owes the government. (Assume that there are no allowable tax deductions, tax credits, personal exemptions, or any other deductions that Anthony can use to reduce his tax liability). b. Determine Anthony's average tax rate. Tax Bracket Marginal Tax Rate $0-5,000 0.05 (5%) 5,001-10,000 0.10 (10%) 10,001-15,000 0.15 (15%) 15,001-20,000 0.20 (20%) 20,001-25,000 0.25 (25%) 25,001-30,000 0.30 (30%)
If the Fed wants to decrease the money supply, it can __________ the required reserve ratio, conduct an open market __________, or __________ the discount rate
A) raise; purchase; lower B) lower; purchase; lower C) raise; sale; raise D) lower; sale; lower E) none of the above