All taxes carry which of the following costs?
A. Time in creating procedures for collecting revenues
B. Enforcing tax payments
C. Managing collected funds
D. All taxes incur all of these costs.
D. All taxes incur all of these costs.
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Suppose that the country of Pacifica sold its cars in Atlantica for less than it costs to produce the cars. Pacifica could be accused of
A) avoiding import quotas. B) increasing its gains from trade. C) dumping. D) engaging in learning-by-doing.
King James of England granted the Virginia Company all land "from sea to sea." The Proclamation Line of 1763 supported this grant
Indicate whether the statement is true or false
The government imposes a price floor on wheat that is below the market price. You are asked to suggest a rationing scheme that will minimize the misallocation of resources. You suggest
A. using a queuing system to compensate for the excess demand. B. using rationing coupons that can be resold. C. that no rationing system will be necessary. D. using rationing coupons that cannot be resold.
Refer to the information provided in Table 31.2 below to answer the question(s) that follow.Table 31.2PeriodQuantity of Labor (L)Quantity of Capital (K)Total Output (Y)1 50 50 2002 50 60 2153 50 70 2254 50 80 230Refer to Table 31.2. During Period 1, labor productivity is equal to
A. 0.25. B. 1.0. C. 2.0. D. 4.0.