The Laffer curve shows as tax rates rise, tax revenue:
a. rises.
b. first rises, then falls, and then rises again.
c. falls.
d. first rises, and then falls.
e. remains at a constant level.
d
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Real GDP per capita is calculated by dividing the value of real GDP for a country by the country's adult population
Indicate whether the statement is true or false
A firm will demand more units of a resource if:
a. the resource adds more to revenues than it costs. b. the firm experiences diseconomies of scale. c. the price of the good that uses the resource declines. d. the resource has many substitutes. e. the resource has few substitutes.
Suppose Alyssa likes oranges twice as much as apples, no matter how many apples or oranges she has. Her indifference curves for oranges and apples a. are right angles
b. are straight lines. c. slope upward. d. cross one another at certain points.
People are classified as unemployed if
A. they choose to exit the labor force because they cannot find a job. B. they are not working for voluntary reasons. C. they are willing and able to work but cannot find a job. D. they do not have a job because they choose to work at home for no pay.