A major objective of tax policy should be to
a. avoid distortions in resource allocation while raising revenue
b. divert savings from the private to the public sector
c. increase the government's ability to direct the economy
d. supplement resources entering the country from foreign aid
e. all of the above
A
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The net asset value of an open-end mutual fund is equal to the
A) profits of the fund. B) dividends paid out by the fund. C) market value of the securities held by the fund. D) price-earnings ratio of the fund.
When a firm is experiencing economies of scale, long-run
a. average total cost is minimized. b. average total cost is greater than long-run marginal cost. c. average total cost is less than long-run marginal cost. d. marginal cost is minimized.
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.
The biggest difference between traditional sports gambling and daily fantasy is
A. daily fantasy bets are always legal. B. traditional sports gambling bets are all settled are clearly observable from the outcome of an event, whereas daily fantasy is settled based on a points formula. C. daily fantasy is always settled in a day, whereas traditional sports gambling bets take a whole season. D. daily fantasy bets are much smaller bets.