As the size of a tax increases, the government's tax revenue rises, then falls
a. True
b. False
Indicate whether the statement is true or false
True
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When the demand for a good is inelastic and its price increases, the total revenue from the sale of the good will ________
A) increase B) decrease initially and then increase C) decrease D) not change
As the number of firms in a cartel increases, the easier it is to enforce the cartel agreement
a. True b. False Indicate whether the statement is true or false
When the tax structure of a nation is progressive, as incomes increase, the tax rate:
A. declines. B. remains the same. C. increases. D. is proportional.
National debt is likely to fall when
A. there is a succession of budget deficits. B. government’s expenditure falls short of its receipts. C. government’s expenditures exceed its receipts. D. government expenditure equals revenue.