The benefits-received principle of taxation is most evident in:
A. personal income taxes.
B. inheritance taxes.
C. corporate income taxes.
D. excise taxes on gasoline.
Answer: D
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Let C = 200 + .8(Y-T), planned investment equals 150, and T equals 200 . If the equilibrium level of income is 2,000, then the level of government spending needed to make this true is
a. 210. b. 250. c. 50. d. 10. e. none of the above.
The slope of the budget line that expresses the tradeoff between risk and return for an asset can be represented by
A) (Rf - Rm)/?m. B) (Rm - Rf)/?m. C) Rm - Rf. D) b.
The view that decision-maker expectations are based on actual outcomes observed during the recent past is called the:
a. rational expectations hypothesis. b. adaptive expectations hypothesis. c. permanent income theory. d. recognition lag.
From the standpoint of economic growth, banks are important to
What will be an ideal response?