Suppose the Banking Industry Were to Fail,leaving the Federal Government

question 47

Multiple Choice

Suppose the banking industry were to fail,leaving the federal government (through its deposit guarantee programs) to pay for trillions of dollars in losses: they do so by imposing a tax of 50% on all individuals' wealth.What happens to current employment and the real wage rate?

• A)Both employment and the real wage rate would increase.
• B)Both employment and the real wage rate would decrease.
• C)Employment would increase and the real wage would decrease.
• D)Employment would decrease and the real wage would increase.

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Definitions:

Semiotics

is the study of signs and symbols and their use or interpretation.

Back Translation

The practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors.

Symbolic Linguistics

The study of how language symbolizes and conveys meaning in human communication.

Cultural Symbols

Objects, signs, or emblems that carry particular meanings recognized only by members of a culture or society.