In 2017, Based on Data from the OECD, the Government's

question 99

Multiple Choice

In 2017, based on data from the OECD, the government's total tax revenue as a percentage of total output was highest in which of the following nations?

• A)Germany
• B)France
• C)United States
• D)Mexico

---

Definitions:

Short-Run Phillips Curve

The Short-Run Phillips Curve depicts an inverse relationship between unemployment and inflation in the short term, indicating that lower unemployment can come with higher inflation.

Monetary Policy

The process by which a government, central bank, or monetary authority manages the money supply to achieve specific goals, such as controlling inflation, maintaining employment, and stabilizing the currency.

Short-Run Phillips Curve

A curve that illustrates a short-term trade-off between inflation and unemployment, suggesting lower unemployment can come at the cost of higher inflation.

Financial Crisis

A broad term for a situation when financial assets rapidly lose a significant part of their nominal value.