One of the key income tax topics debated during the 2008 Presidential election was whether the
A. 1986 tax increases should be repealed in 2011.
B. Iraqi oil revenues should be taxed by the U.S. to provide care for disabled Iraqi War veterans.
C. 2003 tax cuts should be allowed to expire in 2011.
D. national sales tax should be abolished and replaced with a single income tax rate of 21%.
Answer: C
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According to the aggregate supply drawn under the monetarist view, which of the following would lead to a higher price level?
A. The purchase of bonds in the open market by the Fed. B. An increase in the discount rate. C. An increase in the reserve requirement. D. A decrease in the money multiplier.
Refer to the Article Summary. The convertible peso (CUC) is worth 25 times the peso (CUP), yet Cuban officials have for years treated the two currencies as being of equal value. This indicates that the peso (CUP) is ________ compared to the convertible peso (CUC), and would need to be ________ for the two currencies to reach the market equilibrium exchange rate.
A) overvalued; revalued B) undervalued; devalued C) overvalued; devalued D) undervalued; revalued