What is an efficient tax system? What rules promote efficiency?
What will be an ideal response?
An efficient tax system obtains more revenue for its efforts than otherwise by making evasion difficult. Broad-based, simple tax systems with moderate rates make for greater efficiency.
You might also like to view...
"Inflation acts as a tax because the government gains purchasing power." Is the previous statement correct or incorrect?
What will be an ideal response?
The chain-weighted output index method of calculating real GDP compares
A) compares the quantities of goods produced in consecutive years using prices in both years and averaging the percentage changes in the value of output. B) quantities produced in different years using prices from a year chosen as a reference period. C) quantities produced in different years with the prices that prevailed during the year in which the output was produced. D) prices at different points in time using a sample of goods that is representative of goods purchased by households.
Which of the following is TRUE of incentives?
A) Different people are motivated by different incentives. B) Money is the only measure of incentives. C) All of the people in a particular nation are motivated by the same incentives. D) In economics, people are assumed to respond to disincentives instead of incentives.
As a result of changes in cyclical unemployment, the unemployment rate ________ from 2009 to 2014.
A. remained above 6 percent B. rose every year C. fell every year D. remained below 6 percent