7. In the chart below, the blue line shows the U.S. regular income tax rate. The red and green dashed lines show the era

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7 In The Chart Below The Blue Line Shows The U S Regular Income Tax Rate The Red And Green Dashed Lines Show The Era 1 (49.71 KiB) Viewed 31 times

7. In the chart below, the blue line shows the U.S. regular income tax rate. The red and green dashed lines show the era of World War II from 1 September 1939 to 2 September 1945. Answer the following turo questions according to the graph below. dashed lines show the era of World War I from 28 July 1914 to 11 November 1918 FRED (i) Concerning only the regular income taxes, the U.S. government followed expan- sionary fiscal policy during the World War I and World War II. (ii) Concerning only the regular income taxes, the U.S. government conducted con- tractionary fiscal policy during the first half of 1980s. 8. When there is an increase in unanticipated inflation, the income is more likely dis- tributed from borrowers to lenders.