Author: Anonymous

The terms “business fluctuations” and “business cycles” refer to [answer1]. A recession is defined as a widespread decline in [answer2], and during a recession [answer3].

Suppose the tax rate on the first $20,000 of income earned is 5%; 10% on the next $20,000 earned; and 20% on any additional income earned. A person earning $100,000 of taxable income would have an average tax rate of                      .

When a bank has short-term liabilities that are greater than its short-term assets, but overall its assets are greater than its liabilities, the bank is considered:

Which of the following is NOT a difficulty that the Fed faces in conducting monetary policy?

What kind of rising costs will most likely cause U.S. government spending to increase dramatically in the future?

  According to the tax rates shown in the figure above, an individual who earns $100,000 in taxable income will pay income tax of:

Of the following sources of tax revenue for the U.S. federal government, which is the SMALLEST source of revenue?

The federal government spends the LEAST on which of the following programs?

[answer1] is the identity that represents the quantity theory of money. According to the quantity theory of money, higher rates of money growth result in [answer2] in the long run.

In 2014 and 2015, GDP growth slowed because of unusually cold weather in the Midwest and North East. In the Real Business Cycle framework, we would depict this as an inward shift of the [answer1] which would result in [answer2] inflation and [answer3] Real GDP Growth.