The air we breathe is essential, yet a tax on air is not feasible for all the following reasons except
a. a lack of public support for the tax
b. the demand for air is elastic
c. non-taxpayers could breathe
d. citizen could move away from taxed regions
e. it would require a tyrannical leader/government
B
You might also like to view...
The proportion of deposits that banks are legally required to deposit with the central bank are called:
a. discount requirements b. deposit requirements c. reserve requirements d. monetary requirements
Open-market operations are such a powerful tool of monetary policy that they are seldom used
a. true b. false
If the United States' unemployment rate is 25 percent and the capacity utilization rate is 50 percent, the economy would be in the midst of a _____________.
Fill in the blank(s) with the appropriate word(s).
Suppose that you open your own business and earn an accounting profit of $40,000 per year. When you started your business, you left a job that paid you a $25,000 salary annually. Also, suppose that you invested $70,000 of your own funds to start up your
business. If the normal rate of return on capital is 5 percent, your economic profit is A) $15,000. B) -$11,500. C) $11,500. D) -$55,000.