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Income Tax Rate $0-$100,000 10% $100,000-$180,000 25% $180,000+ 40% Refer to the marginal tax rate schedule above. An individual earning $250,000 in income per year owes ____ in taxes.

Consider the Laffer Curve. The current labor income tax rate places the United States on the righthand side of the curve. If the government reduces the labor income tax rate, taxable income will ____, and the total amount of taxes collected by the government ____.

The M1 measure of the money supply is a ____ measure than the M2 measure of the money supply. M1 includes ____ assets.

Suppose that the reserve requirement is 12.5% and that commercial banks are NOT holding excess reserves. If the Federal Reserve wishes to reduce the money supply by $200 billion, it should conduct an ____.

A central bank that fixes its currency exchange rate in the short term but routinely adjusts the specific fixed rate in response to longer term trends has adopted a ____. 

Suppose that the Federal Reserve conducts an open-market purchase of government securities. As a result, the monetary base ____, and the Federal Funds rate _____.

Congress and the President decide to enact a large increase in government spending. This is considered ____.

Real GDP is currently less than Potential GDP. To close this output gap, Congress and the President could ____.

In the drop-down list that’s defined by this code            10″        12″        16″                10″        12″        16″    how many items can be selected at any given time?

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