Income taxes were made constitutional in the United States by the ________
A) Recovery Act of 2009
B) 16th Amendment to the U.S. Constitution
C) Sherman Anti-Trust Act of 1890
D) Gramm-Leach-Bliley Act of 1999
B
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A country reports that its government outlays total $0.8 trillion and its tax revenues total $0.6 trillion. Does the country have a budget surplus or deficit and what is the surplus or deficit?
What will be an ideal response?
English common law is particularly effective because ________
A) it was derived from the Napoleonic codes of the period of industrialization B) it is the only system that provides protection for personal property rights C) it is able to evolve over time D) of the diverse character of the British Empire
In the U.S. balance of payments, purchases of foreign assets by U.S. residents are tabulated as a:
A. unilateral transfer. B. capital outflow. C. current account outflow. D. capital inflow.
Consider firms operating in an industry where the own price elasticity of demand is infinite; that is, EQ,P = -?. Use this information to determine the type of industry in which these firms operate and the optimal advertising-to-sales ratio.
A. Monopolistic industry and 0 B. Perfectly competitive industry and 0 C. Perfectly competitive industry and ? D. Monopolistically competitive industry and ?