Entry fees at national parks and monuments are an example of:
A. the benefits-received principle of taxation.
B. government bureaucracy and inefficiency.
C. the principle of limited and bundled choice.
D. the ability-to-pay principle of taxation.
Answer: A
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Of the $840 billion American Recovery and Reinvestment Act stimulus package which was enacted in 2009, the largest tax cuts occurred in which category?
A) infrastructure tax cuts B) business tax cuts C) individual tax cuts D) energy tax cuts
The General Agreement on Tariffs and Trade and the World Trade Organization have resulted in
A) termination of export subsidies applied to manufactured goods. B) termination of import tariffs applied to manufactures. C) termination of import tariffs applied to agricultural commodities. D) termination of international theft of copyrights. E) a number of rounds of multilateral trade agreements.
Economic growth can be pictured in a production possibilities curve diagram by
A) shifting the production possibilities curve in. B) shifting the production possibilities curve out. C) making the production possibilities curve straighter. D) moving from a point inside the production possibilities curve to a point on the curve.
If nominal GDP is $10,000 and real GDP is $8,000, then the GDP deflator is 125
a. True b. False Indicate whether the statement is true or false