Suppose that a person in the United States earns $5,000 and faces an income tax rate of 25 percent. If that person saves $2,000 and invests it at 12 percent then he or she will pay
A) less in taxes because of the saving. B) tax only on the income spent.
C) more in taxes than if there had been no saving. D) tax only on the amount saved.
C
Economics
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The Federal Reserve Bank was first established in the U.S. by an Act of Congress passed in
A) 1947. B) 1913. C) 1861. D) 1789.
Economics
In the United States, between 1961 and 2011, there has been
i. a consistent , non-changing growth rate of potential GDP per person. ii. an increase in the standard of living based on real GDP per person. iii. fluctuations in real GDP per person around potential GDP per person. A) ii only B) i, ii and iii C) i and ii only D) ii and iii E) i only
Economics