One major tax loophole intended to help state & local governments raise funds is:
a. fiscal federalism
b. tax exempt municipal bond interest
c. tax deductible mortgage interest
d. tax credits for solar panels
b
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Suppose the economy experiences a recessionary gap. Expansionary monetary policy will
A) increase interest rates and increase the bond prices. B) increase interest rates and decrease the bond prices C) decrease interest rates and increase the bond prices D) decrease interest rates and decrease the bond prices
If demand increases in a perfectly competitive market,
a. then, in the short run, existing firms will find their profits diminishing, or their losses increasing b. existing firms will earn an economic profit c. the market price will decrease d. each firm will produce more along its short-run supply curve and total output will increase along the short-run market supply curve e. quantity demanded will increase and quantity supplied will decrease