The courts in some states have declared the financing of public schools by local property taxes unconstitutional because
a. housing should never be the basis for taxation of any kind.
b. taxes on real estate generate too much tax revenue.
c. disparity in property values means some communities have more in tax revenues to spend on education than do communities containing less valuable property.
d. the funds for public education should come from federal revenues, not from local property taxes.
c
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
Education at a private university is NOT a pure public good because it is
A) nonrival. B) excludable. C) both nonrival and nonexcludable. D) None of the above answers is correct.
If a firm that emits a form of pollution is also a monopolist, is the firm more likely to be allocatively efficient when compared to a nonmonopoly polluter? Explain.
What will be an ideal response?
A tariff is
a. a penalty imposed on importers of capital b. a tax on financial transactions c. the result of a treaty d. a tax on either imports or exports e. an agreement between countries to limit trade