Author: Anonymous

  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.

You purchased 10 shares of Goldman Sachs stock for $1,200 last year which is now valued at $1,500. Assuming you face a tax rate of 15% on your capital gains, then you owe [answer1] in capital gains tax on your 10 shares if you continue to hold the stock today, and you owe [answer2] in capital gains tax on your 10 shares if you sell the stock today.

Among countries with similar steady-state levels of output, the tendency for poorer countries to grow faster than richer countries is called

According to the Solow model, the reason the United States has experienced sustained economic growth for over 200 years is mostly due to which of the following?

Refer to the figure above. In the figure, assume the initial real growth rate of the economy is 3% (at it’s potential growth rate) when a negative aggregate demand shock shifts the AD curve from to . As a result, the Fed responds by increasing the money supply such that spending growth increases by exactly 10 percentage points. Which of the following is TRUE about the Fed’s policy response?

Inflation refers to an increase in [answer1]. If the Consumer Price Index (CPI) was 237 last year and is now 243, then the inflation rate was approximately [answer2].