After economics class one day, your friend suggests that taxing food would be a good way to raise revenue because the demand for food is quite inelastic. True or False: A tax on food leads to relatively little deadweight loss because people are not very sensitive to the price in this market.

The text states that the committee “expects inflation to rise gradually toward 2% over the medium term as the labor market improves further….” why would the fomc expect inflation to rise because of improvements in the labor market?

In a macroeconomic context, what are implicit liabilities? money owed to people possessing government issued bonds. the amount of money that firms collectively owe to shareholders. money that the government has promised to pay in the future. payments that the federal government undertakes only during periods of recession. which of the choices is a significant implicit liability in the united states? military spending education spending national science foundation spending social security

Starting at age 30, you deposit $2000 a year into an ira account for retirement. treat the yearly deposits into the account as a continuous income stream. if money in the account earns 7%, compounded continuously, how much will be in the account 35 years later, when you retire at age 65? how much of the final amount is interest?