When the Phillips curve was first formulated (late 1960s), many economists thought that it showed a
a. "menu" of budget deficits from different budget policies.
b. "menu" of possible choices available to policy makers.
c. guide to the appropriate mix of fiscal and monetary policy.
d. guide of political reactions to economic policy.
b
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Special taxes levied on earnings for Social Security and Medicare are called
A) an unfair tax on low-income families. B) an exception tax for corporations. C) a social insurance tax. D) a withholding tax on wages.
Suppose the airplane market is an oligopoly. According to the figure above, the price can range as high as ________ and as low as ________
A) $13 million per plane; $1 million per plane B) $30 million per plane; $13 million per plane C) $13 million per plane; $13 million per plane D) $1 million per plane; $1 million per plane E) None of the above answers is correct.