uestion 27 The slope of a long-run aggregate supply curve is vertical, because full-employment output depends directly on the price level. vertical, because full-employment output is independent of the price level. horizontal, because full-employment output is independent of the price level. upward sloping, because as the price level rises, firms will increase output. upward sloping, because rising prices reduce real wealth and spending.
The slope of a long-run
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vertical, because full-employment output depends directly on the
price level. -
vertical, because full-employment output is independent of the price level.
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horizontal, because full-employment output is independent of the price level.
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upward sloping, because as the price level rises, firms will increase output.
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upward sloping, because rising prices reduce real wealth and spending.
Question 28Supposed you are offered a job with Amazon upon graduation. Your starting salary will be $70,000 which will put you in the 22% federal income tax bracket. The total amount of income taxes you pay is $11,285.50. Your average tax rate is approximately ______.
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25.0%
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16.1%
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21.3%
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13.3%
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11.5%
Question 30The largest portion of the federal budget is dedicated to
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discretionary spending.
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mandatory outlays.
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interest payments.
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tax collection.
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defense spending.
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