The Laffer curve is a curve showing
A) output as a function of the tax rate.
B) tax revenue as a function of the tax rate.
C) government expenses as a function of how liberal the government is.
D) the tax rate as a function of government expenses.
B
You might also like to view...
The fact that the prices for McDonald's Big Mac sandwich are not the same around the world illustrates one reason why purchasing power does not hold: Many goods are not traded internationally
Indicate whether the statement is true or false
A monopolistically competitive firm has the free entry characteristics of ________ and the price setting characteristics of ________
A) an oligopolistic market; perfect competition B) perfect competition; a monopoly C) a monopolistic market; a cartel D) perfect competition; perfect competition
If a Lorenz curve were constructed for the distribution of wealth, the curve would
a. indicate greater inequality for wealth than income. b. indicate less inequality for wealth than income. c. be identical to the Lorenz curve for income. d. be a straight line from the origin.
If a currency increases in value as a result of government decree rather than market forces, the process is known as
a. reflation. b. revaluation. c. appreciation. d. value-added.