The total amount of surplus lost due to taxation is:
A. greater than the amount of revenue generated.
B. less than the amount of revenue generated.
C. transferred to the government in the form of tax revenues.
D. used to fund public services.
A. greater than the amount of revenue generated.
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Using the fiscal year 2014 estimates, the largest component of state and local revenue is the
A) individual income tax. B) corporate income tax. C) revenue from the federal government. D) sales, excise, and gross receipts taxes.
The effects of a tariff are
A) reduced quantity supplied overall, reduced quantity supplied by domestic producers, and a lower price. B) reduced quantity supplied overall, increased quantity supplied by domestic producers, and a higher price. C) reduced quantity supplied overall, decreased quantity supplied by domestic producers, and a lower price. D) identical to the effects of a quota, except that the price of the good is higher.
Why is the natural rate of unemployment higher in Europe than it is in the United States?
Finding the occupation or business activity in which you are relatively more productive helps you earn more money than otherwise would be the case. This reflects the
What will be an ideal response?