The evidence indicates that during the 1770s, the American colonists were
(a) among the most heavily taxed people in the European world.
(b) among the most lightly taxed people in the European world.
(c) taxed at a rate that was similar to other people in the European world.
(d) taxed at rates that can't be compared to other rates due to lack of data.
(b)
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Tradeoffs involve an exchange of one thing for another because resources are limited and can be used in different ways
Indicate whether the statement is true or false
The working-age population consists of all the people in the population
A) aged 16 and over. B) aged 16 to 65. C) aged 16 and over who are not in jail, hospital, or an institution or in the U.S. Armed Forces. D) aged 21 and over who are not in jail, hospital, or an institution or in the U.S. Armed Forces. E) who are employed plus the unemployed people.
If the Federal Reserve wants to lower the federal funds rate, it should
A) increase reserve requirements. B) announce a lower rate. C) request a lower rate. D) purchase government securities.
If a tax is levied on the buyers of a product, then the supply curve will
a. not shift. b. shift up. c. shift down. d. become flatter.