Which of the following is correct regarding tax revenues?
A. They decrease during economic slowdowns.
B. They do not change with changes in the tax rate.
C. They increase during recessions.
D. They are the only revenue source in the government's budget.
Answer: A
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The current account balance of the United States began to deteriorate in
A) the late 1960s. B) the early 1970s. C) the early 1980s. D) the late 1980s. E) the early 1990s.
The kinked demand curve model is based on the assumption that rival firms will match a price cut but ignore a price increase.
Answer the following statement true (T) or false (F)
How income is distributed is typically measured using
A. The production of goods and services. B. Personal income. C. Wealth. D. In-kind income.
YearSalaryCPI1969$20,52036.71979$43,26572.61989$85,529124.01999$135,250166.62009$170,844214.5Your father tells you he earned a salary of $45,000 a year in 1980. This salary figure is the:
A. value of his salary adjusted to 2009 dollars. B. nominal value of his salary in 1980. C. value of his salary adjusted for inflation. D. real value of his salary in 1980.