The Mayor of Stuckeyville is considering increasing the tax on bowling. He is confident that tax revenues will increase but recognizes the possibility that they may decrease. The mayor is engaging in
A) dynamic tax analysis.
B) static tax analysis.
C) a policy that will cause the tax base to increase.
D) a policy that will cause the tax base to remain unchanged.
A
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In economics, activities done for others, such as providing house cleaning or dental work, are referred to as
A) services. B) physical capital. C) technology. D) goods.
Which is not a fixed cost?
a. monthly rent of $1,00 . with a 12 month lease b. an insurance premium of $50 per year, paid last month c. Tax accountant's salary d. labor costs paid per hour
The working population of the United States is approximately
a. 144 million b. 290 million c. 300 million d. 1.3 billion
The opportunity cost of slowing global warming by reducing carbon dioxide emissions is
a. extremely high because policies that would significantly reduce emissions will adversely affect economic growth. b. insignificant compared to the probable impact of warming from those emissions. c. irrelevant because each aspect of the environment is important enough to justify full protection from environmental change, at whatever cost is necessary. d. zero because fuel cost savings alone will offset all opportunity costs.