The Gramm-Rudman-Hollings Act of 1985 was designed to set a timetable to
a. reduce the national debt to zero
b. replace the progressive income tax with a flat-rate tax
c. make Social Security fiscally sound
d. replace the Social Security tax with a value-added tax
e. reduce deficit spending
E
You might also like to view...
The Fed buys $100 million of government securities from Bank A. What is the effect on Bank A's balance sheet?
A) Securities decrease by $100 million and reserves increase by $100 million. B) Securities decrease by $100 million and deposits decrease by $100 million. C) Securities increase by $100 million and reserves decrease by $100 million. D) Securities increase by $100 million and reserves increase by $100 million.
A firm could continue to operate for years without ever earning a profit as long as it is producing an output where
A) MR < ATC. B) ATC > AVC. C) MR > AVC. D) AFC < AVC.