Last year, Alfred earned $5,000, Betty earned $50,000, and Charlie earned $500,000. If they all pay a 35% tax on all their incomes, the tax would be described as a(n)
a progressive
b proportional
c excise
d regressive
The Federal Reserve can alter the business cycle through the use of
a monetary policy
b commercial banks
c fiscal policy
d unemployment legislation
The purpose of expansionary fiscal policy is to
a prevent hyperinflation
b increase the separation between Government and private industry.
c Increase output (GDP)
d slow the growth of GDP
