A) an asset
B) a unit of measure
C) a tool
D) all of the above
E) none of the above
D
Which of the following is a positive economic statement?
Izzy Amador is a highly talented tattoo artist. She has chosen to specialize in tattoo art because of all of the following except
A) for her, this is the most lucrative way to purchase the products that she wants to consume. B) her tattoos are highly esteemed by tattoo lovers who are willing to pay very high prices. C) her opportunity cost of pursuing another career is very low. D) she obviously has a comparative advantage in tattoo art.
At the federal level, the single most important tax, accounting for slightly less than half of revenue, is the:
a. corporate income tax. b. personal income tax. c. estate tax. d. property tax. e. sales tax.
Suppose the federal government wants to encourage businesses to increase investment spending. Which policy may be the most effective?
A. An increase in corporate income taxes B. An increase in real interest rates C. An increase in warnings of a coming recession D. An increase in tax deductions for investment spending